Social Media Sidebar

Announcement

Please sign up, comment on articles and bring your friends!

Current poll

PlanetTech is asking:

What do you think about our new web site?

Love it, indeed
Really good solution
Same as old one
The old one was better
This is a new option

Quote of the day

We are all now connected by the Internet, like neurons in a giant brain.

 

Stephen Hawking

 

Congress Says Yes to Space Mining, No to Rocket Regulations

RATE THIS! +23
Posted in Science on 18th Nov, 2015 05:58 PM by AlexMuller

Yesterday the US Commercial Space Launch Competitiveness Act passed through both congressional houses. The bill protects private spaceflight from regulatory oversight, giving the industry up to 10 years to get its innovations in place before government overseers step in and start counting rivets.

 

But more interesting (if less immediately applicable), the bill lets entreprenauts keep whatever nonliving souvenirs they find out in the void, opening the door to everything from asteroid-based gold mines to comet-collected rocket fuel. The next step is President Obama’s desk, but he’s likely to sign.

 
Going to space is risky business. Besides the upfront danger to life and rocket, astronomical investments are at stake, and certain government agencies want to reduce risk by imposing regulations on commercial spaceflight. At the forefront is the Federal Aviation Administration, which would like to manage spaceship specs much like it does commercial planes.
 
But the industry says regulations like that would hinder its progress to the stars. “Investing in space is a long term, high up front, and highly risky investment,” says Henry Hertzfeld, space policy researcher at George Washington University. Despite hyped stories about Mars colonies and Lance Bass in a cosmonaut suit, the commercial space industry is young and technologically immature. To build a rocket that can land on an ocean barge, or an egalitarian edge-of-space tourism company, the field needs more time, more innovation.
 
More money, too. But even the most space-crazed billionaire wouldn’t want to invest cash in a new, uncertain industry that also happens to be overly regulated. And Congress agrees, so, with the space bill, it gave the industry another eight years without regulatory oversight. Or at least, without much of it. The FAA still issues licenses for all US spacecraft launches and reentries.
 
“It’s a real vote of confidence from Congress that commercial space matters, and we can shape and grow the industry without the burdens of the federal government,” says Eric Stallmer, president of Commercial Spaceflight Federation, an industry group.

Tags: spacerocketasteroid miningcommercial spaceentrepreneurshipUSregulationbusiness

Read original article » Back to category

Comments



 

Recent headlines

  • Posted in Business on 2017-06-25 14:44:38
    Microsoft wants to make Direct Reality VR’s answer to.....read more
    Posted in Medicine on 2017-06-25 14:31:51
    UK's first heart pump targets 2018 clinical trial..read more
    Posted in Software on 2017-06-24 14:42:11
    Google to make quantum computer faster than classical.....read more
    Posted in Business on 2017-06-24 14:31:46
    SpaceX successfully launches and lands a used rocket for.....read more
    Posted in Software on 2017-06-24 14:15:18
    Yale and Oxford researchers say 50% chance AI will.....read more
Posted in Business on 2013-10-10 01:33
China is working towards a manned lunar mission in about.....read more
Posted in Business on 2013-10-20 07:17
Spacex says China is their main competitor for commercial.....read more
Posted in Software on 2013-10-20 06:43
Pirate Bay Browser Clocks 1,000,000 Downloads..read more
Posted in Medicine on 2013-10-10 02:10
Google reportedly investing hundreds of millions into new.....read more
Posted in Medicine on 2013-10-14 03:13
Endothelial Cells Can Repair and Regenerate Organs,.....read more
Posted in Science on 01.01.2010
Spacex says China is their main competitor for commercial.....read more
Posted in Science on 01.01.2010
Staring at Your Phone Could Be Making You Short Sighted..read more
Posted in Science on 01.01.2010
Oculus Rift virtual reality headset coming to mobile, but.....read more
Posted in Science on 01.01.2010
China is working towards a manned lunar mission in about.....read more
Posted in Science on 01.01.2010
Delivering drugs via nanoparticles to target mitochondria..read more

Recent Blog Posts

  • Posted by AlexMuller
    Nanoparticle vaccine shows potential as immunotherapy to fight.....read more
    Posted by AlexMuller
    Obesity is top cause of preventable life-years lost, study shows..read more
    Posted by AlexMuller
    Light can be utilized to control gene function..read more
    Posted by AlexMuller
    Brain stimulation restores memory during lapses, research shows..read more
    Posted by AlexMuller
    Wax worm caterpillar will eat plastic shopping bags: New.....read more

Login to your Account

Login to your PlanetTech Account here

Username:
Password:
Remember me
or

Create a New Account

You just need username and password

The following errors occured:
Username:
Email:
Password:
Verify password:
Remember me