Offshore oil: technology. and emotion. [Reviews and refutes false charges against U. S]

Dwindling domestic oil supplies and international power politics make a convincing case that the U.S. must quickly develop its offshore oil. The author summarizes his views on the necessity for offshore petroleum drilling and discusses some charges that have been falsely made. He reviews the U.S. production accomplishments for natural gas and oil to refute the charges that the U.S. has ceased production of its own resources in order to first use up the world supply. He cites statistics showing that the U.S. has 6 percent of the world's population, 5 percent of the world's land mass, in 1973 produced 26 percent of the world's oil and gas energy, and during the past century produced 40 percent of the world's oil and gas. Peak production of oil and gas in the U.S. has passed, but the continental shelf offers the best apparent chance for immediate source of supplementary oil and gas, with the best prospects for the Atlantic coast off Delaware and New England. Other short-term sources are from inland deposits of oil shale and coal. Additional supplementary energy in the short term can come from increased use of nuclear fission reactors and perhaps in the long term from nuclearmore » fusion. Wind, tides, waves, and ocean temperature gradients are considered long-term sources. The outcry of the environmentalist is discussed. Government policies and demand for increased revenues may restrict offshore oil production more than does the outcry of the environmentalist, though. As a result of such policies, offshore tracts are small, offered at intervals unrelated to energy needs, and divert company funds from further exploration and development. The general public has been led to blame the companies for the high prices of oil and its products, but the price of gasoline in the U.S. is about one-half to one-third the prices in many other nations. Government revenues from the bonus bids paid for offshore oil rights are discussed. (MCW)« less