Problems and prospects of U. S. Outer Continental Shelf petroleum resources
Despite estimates that the US Outer Continental Shelf (OCS) could yield half of undiscovered US hydrocarbons, less than 6% has been offered for lease, and only 2% is currently leased from the Department of the Interior (DOI). Controversy and uncertainty about these lands demonstrate the need to reevaluate existing policies. A review of OCS policy history, recent studies of industry procedures and competitive bidding patterns, and environmental issues find a consensus that the resources are substantial and optimism that prospects for finding oil are good. The constraints from economic policies that prohibit joint bidding may be offset by a new five-year schedule for leasing. Although environmental groups and affected states oppose exploration and development of the OCS and will keep these resources unavailable during the 1985-2000 period, recent amendments to the OCS lands act suggest a compromise policy is possible in the long run. 34 references, 2 figures, 3 tables.
- Research Organization:
- Research Triangle Inst., Research Triangle Park, NC
- OSTI ID:
- 6705503
- Journal Information:
- Growth Change; (United States), Journal Name: Growth Change; (United States) Vol. 15:2; ISSN GRCHD
- Country of Publication:
- United States
- Language:
- English
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ADMINISTRATIVE PROCEDURES
BIDS
COMPETITION
CONSTRAINTS
CONTINENTAL MARGIN
CONTINENTAL SHELF
ENVIRONMENTAL POLICY
GOVERNMENT POLICIES
INDUSTRY
LAND LEASING
LEASING
NATIONAL ORGANIZATIONS
PETROLEUM INDUSTRY
RESOURCE POTENTIAL
US DOI
US ORGANIZATIONS