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...worries. Fishermen have long sought assurances that the bank, vital to Massachusetts' $500 million-a-year catch, would be protected from even the slightest risks of pollution. Oilmen, who estimate that there may be 180 million to 650 million bbl. of oil and from 1.2 trillion to 4.2 trillion cu. ft. of natural gas in the region, sought to calm the fishermen's fears by promising to take proper precautions against leaks and spills. The Interior Department tried to counter objections by reducing the size of the proposed sale from 155 tracts to 128 covering 700,000 acres...
...merely the latest obstacle to offshore oil exploration. In a sale held 18 months ago, 39 oil companies paid $1.13 billion to lease drilling tracts in the Baltimore Canyon, an area east of Atlantic City, N.J., that may contain up to 1.4 billion bbl. of oil and 9.4 trillion cu. ft. of natural gas. But a suit by New York's Suffolk County, which is worried about the impact of oilfield accidents on its $ 1 billion-a-year fishing and recreation businesses, has kept the oilmen ashore. "It's not fair," laments an oil company executive. "The Government is holding...
This spring, oil hunters will begin probing the Baltimore Canyon, an ocean-floor site off Atlantic City, N.J. They hope to find 1.4 billion bbl. of oil and nearly 10 trillion cu. ft. of natural gas that may lie beneath the continental shelf. Most energy-hungry Americans hope the oilmen find what they are looking for. Anne Simon will be satisfied if they do not make what she considers a bad situation even worse. A veteran coast watcher, Simon has already written an impassioned plea for the preservation of Martha's Vineyard. In her newest book, she appeals just...
...still insists that it did nothing wrong: if a car buyer paid for a 350-cu. in., 170-h.p. engine, that is exactly what he got?though some owners, like Siwek, experienced delays getting their cars repaired because parts for Oldsmobile, Pontiac and Buick engines did not always fit the Chevy motors. The $40 million will hardly be a severe financial penalty to GM, which has earned as much as $1 billion profit in a single quarter...
...exhaust water will have to be pumped back into the earth to avoid turning the area into a swamp. The economics will look more encouraging, however, if Congress adopts a provision now in a pending tax bill that will allow a tax credit of 50? per 1,000 cu. ft. of geopressured gas recovered...