For this reason, it is difficult to anticipate the impact of OCS 

 development on New England. Since advanced planning is important, 

 many people feel that time should be allotted for studies after the 

 oil has been found.yet prior to approval of development plans. 



Table 1. Petroleum Resource Estimates That Have Received Public At- 

 tention. (Sources: N.Y. Times; A.D. Little, Inc., 1974; Grigalunas, 

 1975; U.S.G.S., 1975; U.S. Department of Interior, Bureau of Land 

 Management, 1976.) 



OIL GAS 



EAST COAST RESOURCE (billion bbl ) (trillion cu. ft.) 



1973 Atlantic Action Program 12 167 

 Potential Gas Agency 36 

 'Industry experts 1 48 217 



1974 U.S.G.S. (50%-5% chance) 10-20 55-110 



NORTH ATLANTIC RESOURCE 



1975 A.D. Little, Inc. 17.75 38.8 

 Grigalunas (50%-5% chance) 0.4-3.0 2-10 

 U.S.G.S. (50%-5% chance) 0.9-2.4 4.2-12.5 



1976 U.S. Department of Interior, .18-. 65 1.2- 4.3 

 Bureau of Land Management, 



Sale #42 only. (50%- 5% 

 chance) 



2.2 Survey Activity in the North Atlantic 



Seismic surveys and stratigraphic test programs have been conducted 

 to better understand the stratigraphy of this area of the Atlantic. 

 These studies indicate potential traps in the geological structure of 

 Georges Bank. However, it should be noted that exploratory drilling 

 off Nova Scotia in an adjacent geological structure has not been success- 

 ful. 



