Wednesday, April 3, 1974

Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

Page: 7

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Text Content of Page 7 of Cedar Rapids Gazette on Wednesday, April 3, 1974

Cedar Rapids Gazette (Newspaper) - April 3, 1974, Cedar Rapids, Iowa 4A The Cedar Kaplds Gazette: Wed., April 3, 1974 Oil Companies Lured by Waters Off East Coast BOSTON (AP) The watersjsome state officials say they stake. The tourist industry off the East Coast are the do- doubt they'll win. main of fishermen, seagulls and Environmentalists are wary o weekend sailors now, but petro- the whole idea of turning leum companies are quietly working to raise oil rigs above biggest in Mas the waves. Encouraged by federal es- timates of huge deposits of oil and gas just off the New Eng- land and Mid-Atlantic states, the companies are putting to- gether a timetable for going out and getting it. "I would presently estimate that the time before peak pro- duction occurs from the firsl leases issued off the Atlantic Coast would be eight to 10 said Jack Earnest, director of North American operations for Mobil Oil Corp. "If leases are issued in 1977, this would mean peak produc- tion in the mid '80s." But before this can happen, there will be years of court fights, studies and exploration. SpillWorry Environmentalists are worried about the possibility of oil spills. Some coastal residents com- plain there's nothing in it for them. And geologists aren't even sure enough fuel is .there to make drilling worthwhile. Proponents quote government statistics. The U.S. geological survey estimates there are 10 billion to 20 billion barrels of oil and 55 trillion to 110 trillion feet of gas under the mud and rock of the Atlantic seacoast. Tota proven world oil reserves are currently estimated at 600 bil- lion barrels. The deposits, if they exist, are on the outer continental shelf, the relatively shallow water be- grounds into oil fields. The; want assurances it will be safe. "We're trying to make sur the standards are set before th leases are said Frey, head of the New Englanc Volcanic April Fool SITKA, Alaska (AP) It's been over four centuries since Mt. Edgecumbe blew its top, but when black smoke bil- lowed from the dormant vol- cano, few Sitka residents stirred. The "eruption" was nothing more than 70 old rubber tires tween shore. 30 and 200 miles from The most promising places, geologists say, are Georges p.' Bank and the Baltimore Can- yon Georges Bank stretches from off Long Island to Nova Scotia. It is one of the world's most im- grounds. Bai- lies about 40 portant fishing timore. Canyon ___ ____ miles off Maryland, Delaware and New Jersey. Two Things "In just about everyone's opinion there is oil in the Atlan- said Frank Basile, team leader of the Bureau of Land Management's outer continental shelf office in New York. "There are basins that have a good probability of significant oil and gas deposits." Before the interior depart-! ment can start up the bureau- cratic process that could even- tually lead to leasing of explora- tion rights to oil companies, two things must happen: Another federal agency must complete an environmental study, and the supreme court must settle a ju- risdictional dispute over who owns the seabed. The study was requested aj year ago by President Nixon. He said he needed it to decide whether to go ahead with East Coast oil exploration. The study's conclusions by the Council on Environmental Quali- ty are expected to clear the way for oil development under some restrictions. Somewhere Between "It's not simply a question of go ahead or not go said Bruce Pasternack, study coor- dinator for the council. "There are a lot of intermediaries. We'll be somewhere between those extremes. "Both sides will quote our report. And I'm sure both sides will denounce us for not backing them all the way." At stake in the supreme court case is who has the right to lease the underwater lands to the companies the federal government or the state govern- ments. Lease payments could amount to billions of dollars. The 12 coastal states claim that 17th-century colonial charters give them jurisdiction over the outer continental shelf. Federal officials express con- fidence in victory, and even sachusetts, and we can't take any kind of chance. If Cape Cod was to suffer any kind of oil dis- soaked with kerosene and set afire in the crater of the foot-high mountain some- body's idea of an April Fool's joke. place would be hurt for years. "It's irrational to ask us 1o stand the risk so someone can drive an excessive-horsepower chapter of the Sierra Club. automobile in Ohio." Natural Gas Officials the spills that happened in th Even though drilling is still See Good in Embargo PITTSBURGH (AP) The several years off along the U.S. East Coast. Canadians have MEN'S But the technology has not been been allowing it in their Atlantic Arab oil embargo has forced the worked out. The safeguards ar United States to deal with its Mobil struck gas first in 1971. energy needs and thus should be The environmental effects positive light, say an offshore oil spill would prob- pent million exploring the he top executives of Consoli- ably be slight, according to outer continental shelf off Nova dated Natural Gas Service Co., study conducted on the Scotia. They've drilled 48 holes Bank area by the Massachusetts and five of them hit gas or oil. Institute of Technology. Not enough has been found so ipathy of our government of- :ar to justify building a pipeline "Because of the strong west icials and the lack of under- erly component to the winds on standing by the people might the North Atlantic Coast, it is veil have led to a serious wea- iest geological clues said highly unlikely that ening of our country's political spill on Georges Bank will ever stature and of our reach shore, and perhaps 5 per- rfobil operations on according to Chairman Robert oast. "It so happens that now cent of the summer spills wil Seymour and President G. J. hey lead out to sea." shoreline biological damage these said Prof danger is spills close to shore .vhen crude oil is transported to land to be refined, he said. Serious Damage But, according to preliminary findings by the Council on En- vironmental Quality: cial fishing may be seriously damaged both by water pollu- tion and mechanical interfer- ence Experience in Alaska indicates per capita income of fishermen may decrease. "Recreational 'industries could character of commu character of communities is one of isolation, historic preserva tion or natural beauty." Critics of drilling say coastal states would suffer all the risks but get little in return from oil "We have absolutely no gain :rom this that we can said 'At my house I get a teenage opinion poll every But we have a lot at Ennajetticks the fashion shoes life-comfortable... Fashion at your Feet! LACY Crinkle patent upper; Widths AA, B C Black, navy, bone, red, or whits Sizes'6-10 19.99 Enna Jetticks lays a whole new world of fashion at your feet with their stunning shoe styles and colors for It's the quality look in footwear at prices you can't afford to miss. 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