The Political Economy of Deep-Sea Exploration and Titan OceanGate Submersible

Among all the creatures God created, humans have always had more opportunity to explore Earth because of the high reasoning level they possess. From land to water, God provides different resources for humans to live life the best way they can. However, what they wanted to enjoy positively sometimes becomes sour because of direct or indirect contravention of natural order to enjoy what interests them. Like the creation of different industries and businesses on land, humans, in their quest to explore water for more resources that would make them live a better life and experience life underwater, have over the years formed industries and created businesses that address different segments of the deep sea, which many sources describe as parts of the ocean between 200 and 500 meters.

The ocean, which invariably means blue economy, includes industries such as renewable marine energy, tourism, fisheries, and maritime trade. This economy has been exploited over the years for fish, minerals, and other uses. Our checks reveal that the exploitation of the ocean started becoming easier in the late 1950s, when technology started to advance enough to have machines that could dive deeper than 1000 feet (300 m) below sea level. This period was 38 years after the Royal Mail Ship (RMS) Titanic tragically sank. Information has it that thousands of people who believed in exploring the ocean paid different amounts for them to be passengers of the ship.

As noted previously, the advancement of technology has made people who have interest in exploring places and also possess the financial power see the reason for diving deep into the ocean. For instance, a submarine dive is an unforgettable experience that provides peace, silence, and insight into uncharted territory. It enables yacht owners and guests to explore deep underwater, where they may encounter whales, sharks, ancient shipwrecks, unusual rock formations, and rare creatures. This uncharted territory offers a one-of-a-kind and unforgettable experience.

People and businesses are not only diving into the depths of the ocean for fun. Another significant factor is the idea of improving life on Earth through resources in the ocean. Several reports and experts have stated that people, countries, and organisations that explore the bottom of the ocean are most likely to be the leaders in the global blue economy in the next two decades. This is premised on the fact that many of the land resources are nearing their depletion stage. Hence, there is a need to see and explore what water has to offer for human survival on Earth. Seafloor massive sulphides, cobalt-rich crusts, and polymetallic nodules are often mentioned as critical resources on the seabed that can provide copper, manganese, zinc, cobalt, platinum, and a host of other valuable metals for human usage on Earth.

While this background indicates that humans can explore both land and water for their survival on Earth, it is, however, imperative to examine the politics and economics of survival in light of the recent sinking of the Titan OceanGate submersible. Our examination of different views across the world about the incident underscores the need for transparent funding models for deep-sea exploration. We must ensure that scientific research and environmental preservation are prioritised over profit-driven motives.

The sinking of the Titanic Explorer is a reminder of the risks involved, but we should not shy away from innovation. Balancing economic interests and responsible practices is key. It has also highlighted the importance of international collaboration and regulatory frameworks for deep-sea exploration. A harmonised approach is needed to ensure equitable access, sustainable practices, and the protection of underwater cultural heritage.

The political economy of deep-sea exploration demands ethical considerations. The Titanic Explorer incident raises questions about the value we place on preserving historical sites and the responsibility of researchers and companies. We must prioritise ethical conduct and societal benefits.

Deep-sea exploration is a complex endeavour that requires substantial funding. The sinking of the Titanic Explorer is a reminder of the financial risks involved. Public-private partnerships and government support are essential to driving research, technological advancements, and safety measures.

As discussions continue, it is evident that the sinking of the Titanic Explorer has brought the political and economic aspects of deep-sea exploration to the forefront. Stakeholders, policymakers, and industry experts will need to navigate these complex issues to ensure that deep-sea exploration remains a force for scientific advancement, economic growth, and environmental stewardship.