Economic and environmental impact of Georges Bank petroleum development. [Monograph]

Book · Thu Jan 01 04:00:00 EST 1976

OSTI ID:6450616

In 1954 the Outer Continental Shelf (OCS) was providing about 2% of the nation's petroleum supply; by 1973 the amount had risen to about 17%. Projections indicate that 20 years from now offshore petroleum will account for nearly one third of the oil used in this country. The Outer Continental Shelf is under the jurisdiction of the Federal government, and decisions about its development are made in Washington. The Georges Bank area off the New England coast will be the fourth area leased under the accelerated program, after the Mid-Atlantic region, California, and Alaska. It is assumed here that, if oil or natural gas is discovered off Georges Bank (4 chances in 10), the find will be large--in excess of one billion barrels equivalent recoverable resources. This assumption allowed regional impacts of offshore petroleum development to be made more clearly and they are examined in specific terms. In Chapters 2 and 3 of this report some of the more common New Englander expectations within the context of the anticipated economic and environmental impacts, respectively, are considered. In Chapter 4 the policy recommendations of the New England Energy Policy Council relative to the Federal process for OCS development are presented and their implications for the region are presented.

• OSTI ID: 6450616
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020900 -- Petroleum-- Environmental Aspects
03 NATURAL GAS
030800 -- Natural Gas-- Environmental Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
290300 -- Energy Planning & Policy-- Environment
Health
& Safety
294002* -- Energy Planning & Policy-- Petroleum
ATLANTIC OCEAN
COASTAL REGIONS
CONTINENTAL MARGIN
CONTINENTAL SHELF
ECONOMIC IMPACT
ENERGY POLICY
ENVIRONMENTAL IMPACTS
EXPLORATION
GEORGES BANK
GOVERNMENT POLICIES
INDUSTRY
LEASING
NATURAL GAS INDUSTRY
NORTH AMERICA
NORTH ATLANTIC REGION
PETROLEUM INDUSTRY
SEAS
SHORES
SURFACE WATERS
USA