What about that guy who started selling chunks of land on the moon, because of a lapse in regulations? I don´t see it getting any real value, but if we take history as our teacher, wouldn´t we be open for hard litigation and maybe even territorial wars?
Back in the 15th century, the first european to reach new land would plant his country´s flag and claim it as their own. Would this mean the US would claim the moon, since it arrived first? Or is the moon property of all Mankind? How will it work?
If, for example, the chinese develop a new cheap means to mine the moon, and start mining it, would the US try to injuction it on the grounds they were there first? If the US is willing to go to war to protect their energy resources (as it did in Iraq, Kuwait, etc), what would happen if they find a new energy source on the moon?
I perceive some rough legal battles, maybe even military battles, to settle this. I just don´t think i´ll be alive to see it.