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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 18, 1972, Lethbridge, Alberta LETHSJUDGS HERALD Monday. Dumber 1972 Atlantic mineral resources 'more valuable' than fishing industry By JOILV FIALKA Washington Star News WASHINGTON The ds- paruneni cf bcerior has i-elessed a study suggesting that the poisnuai _of the oil. natural gas arc rainerals to be feur-c off the Atlantic Coas: Tx-culd be considerably more man coast s iantic continental shell may con- lair: 5.5 billion barrels o! more than any "U.S. oil field kcovna to exist outside of Alaska as well as 37 trillion cubic feet of natural gas. The study, prepared by a team cf researchers from sev- era! interior also states that the "potential value" of sand and gravel lying off- -shore ''is quite high." because of the scarins cf the building industry along t h e the three-mile limit must await C02st jthe outcome' of a lawsuit be- the Mid- twcen East coast states and Cape j- San the fetol government current- Hatteras'. fr the X.C.. the area many experts be- lieve will be the most likely clace for the coast's first off- shore oil exploration. An inter- I lor s b o k e s man maintained. however, that it i "policy document." court, the spokesman pointed out. The states are contesting the right of the federal government to lease the land heyocd the not a three-mile limit. After the issue is settled, the spokesman added, decision whether to allow i there could be a delay lasting leasing for exploration beyond-Lir-foe better part of a while interior prepares an eo- viromnental impact statement i and holds public hearings, i The study notes that 2.5 bll- jlicn ba-rels cf oil and 15.4 bu- llion cubic feet of natural gas might found in the mid-At- i iantic area, relatively close to the major complex of oil refin- i eries in the New Jersey, Dela- and Philadelphia areas. Such estimates, it adds, are '-highly speculative-' and "ex- i pioratcry drilling is required to determine whether any pet- I roleum is present Ln commer- cially recoverable quantities." The study was released with- out fanfare or even a press statement by interior's bureau i cf land management. Reporters who inquired about it were al- j lowed to read an office copy. j Rep. Lester L. Wolff. _D-N.Y.; I who Isad charged earlier that i interior was keeping' the study 'secret after the election, said the repor. was ''totally in- sensitive to the critical environ- mental problems facing the re- gion." gressional team winch has been Referring to the study's im- plication that exploratory drill- ing might be needed, Wolf J said: "I find it shocking that such a conclusion could be reached even the most cursory examination of the hazards of such drilling." TTolff heads a 54-mernber cos- studying the possibility of off- shore Atlantic oil leasing since i last November, when The Star- News reported that the interior i department was preparing sucb i a program. I The 109-page study goes into considerable detail about the ex- tent that the shoreline is valued ;for environmental and recrea- ticnal purposes. It estimates tbf total annual value the Atlai> tic Cshbg industry' at lion, rant gift, Fabulous fragrances to thrill everyone on your list! A. Yard ley Sea Mist .........4.00 Frcfby sprcy seep, 0 spray body 4 QA Moisturizing rr.inerel fceih 1 y f see? Ccsmefies, Main Floor B. lanvin luxuries Her cr.yrrir.g. s-t give '-.e- My Sin fresH, frcgrcr.ce. Lcnvinfttre Z AA t-oz. cf c-f cnc Ecu cie isnvin, ft or ft H A'CeS2 "'UV My Sin C. Yardley for men 4.75 BfceJc 2-sz. ;c-cs fcr crc co'.C'Cne JL QjP Ongino! 3'-i-sz. end 0. Rcaer and Gallet soap E G. Delights by Dana thsf fcr Kc-jri. Ar-.byzh c gey fiord bcv-truer. _ 4 tA Tcb-j end Arr.fauih h c-? 1-cz. ccksr.% 2-cz. C bcth pcwder, A.rr.bush cr Tcb Eaton's Christmas Shopping Hours Eaton's will remain open until 9 p.m. every shopping day before Christmas with the exception of Sat., Dec 23rd, when Eaton's will close at the usual hour of p.m. to enable our staff to enjoy the festive season with their family and friends. ATOM'S comes to life BUY LINE 328-8811. USE YOUR EATON COME TRUE CARD. ;