Can Oil Ease South China Sea Tensions?

A year after the Permanent Court of Arbitration ruled in favor of the Philippines in a case the country brought against neighboring China about its territorial claims in the South China Sea, the two are mulling over joint oil and gas exploration in the basin. China never accepted the court’s ruling. It still claims rights to most of the South China Sea and threatens anyone daring to encroach on these territories, the most recent example being Vietnam’s Block 136-3, where drilling was suspended a week after it began when Beijing threatened…