Table V-2 — Worldwide Production off Mineral Resources From the Oceans 



in 1969 



Percentage Value 



Resource by value (millions of 



from ocean dollars) 



Seawater: 



Salt 29 $173 



Magnesium metal 61 75 



Fresh water 59 51 



Bromine 70 45 



Magnesium compounds 6 41 



Heavy water (0,0) 20 27 



Others (potassium, calcium salts, sodium sulfate) 1 



Total value from seawater 



Seafloor (surface deposits): 



Sand and gravel 



Shell 



Tin 



Heavy mineral sands (ilmenite, rutile, zircon, 



garnet, etc.) 



Diamonds 



Iron sands 



Total value of surficial deposits 



Seafloor (subsurface deposits): 



Oil and gas 



Sulfur 



Coal 



Iron ore 



Total value of subbottom deposits 



Total 7, 070 



Source: Department of the Interior; Dow Chemical Co.; miscellaneous. 



Impediments to Progress 



Advancement by the minerals industry offshore has been impeded by 

 three interacting considerations — economical, technological, and institu- 

 tional. The economic attractiveness of offshore ventures depends on a variety 

 of factors: resource demand; competition from other sources; cost and 

 effectiveness of marine operations; potential productivity of the deposits; 

 and investment climate, including stability of operations. At greater water 

 depths and distances from shore, costs rise rapidly. It is estimated that the 

 capital cost to develop and produce from a 50-million-barrel offshore 

 petroleum field w^ill increase more than 100 percent when moving from 100 

 to 600 feet of water. 



The petroleum industry has been singularly successful in moving off- 

 shore, combining the initial advantage of being able to adapt directly many 

 onshore exploration-production capabilities with imaginative follow-on 

 techniques for deeper water operations. Although current production is 



67 



