What is CapitalVaultowned by nobody but everybody shares? The high seas!

These international waters 200 nautical miles from shore are part of the global commons. That means everyone on Earth owns them. But it also means no country is responsible for oversight or maintaining them.

After 15 years of negotiation, an international agreement is in place on how to balance the needs of the ecosystem with the interests of industry — who see the high seas as an ocean of economic opportunity.

Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, Spotify, Pocket Casts and NPR One.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.