198 OCEANOGRAPHY 1961 — PHASE 3 



Furthermore, the area! distribution of these minerals is on a very 

 broad scale. There is no competitive advantage in spending a lot of 

 money to work out methods, and so on, to stake out a claim in this 

 area, when you could not possibly cover all possible areas, and one of 

 your competitors, having taken advantage of your expenses in learn- 

 ing how to do this, could then come right in and claim the block right 

 next to you. Unless you can gain a competitive advantage for devel- 

 oping the methods for doing this, you are not likely to do it. 



Thirdly, these minerals are not in short supply at the present time. 

 But our long-range security is perhaps none too good. A lot of cobalt 

 comes from the Congo, for example. 



These deep sea deposits, the ones that are known so far, at least, 

 are near islands in the equatorial Pacific, away from continental 

 sedimentation, which would have covered them up. But they are near 

 islands which are not controlled by us ; that is, by the United States. 



The areas where they are, are not claimed by anybody, as yet. But 

 as I say, the nearest land is controlled by other nations. If we wish 

 eventually to make use of these resources, we had better establish a 

 claim by use before somebody else takes it into his mind to extend his 

 territorial limits to 500 miles instead of 3 miles or 12 miles, or what- 

 ever it might be. 



If we have actually started, at least on a semicommercial scale, mak- 

 ing use of these resources before such claims are made, we are in a lot 

 better position to defend our right to continue doing so. 



Now, one hears a good m.any diffei-ent statements as to when the 

 technology for deep sea mining might be available. One of my more 

 optimistic colleagues says 5 years. I think he is a little overoptimistic. 

 But he is relying on developments of new materials, new power meth- 

 ods, such as fuel cells, and so on. 



But I do not think it is too soon to start thinking about this. It 

 may not be 5 years. It may not be 10. But we have to look farther 

 down the road than that. 



And support is needed, as I say, from the Government, for an eco- 

 nomic and technological evaluation of these resources. 



I would not, in my opinion, consider the U.S. Geological Survey 

 qualified to make the economic evaluation. Technologically, maybe, 

 yes; but not economic. That is not their primary business. 



All right. I have gone on now at considerable length. Some of my 

 colleagues are beginning to wonder when I am going to shut up and 

 let them have their say. 



We are going to hear from some geophysical contractors on their 

 methods of know-how for effective and efficient surveys, on instru- 

 ment technology, on the manpower facilities, our state of readiness to 

 contribute. 



There is one general area in oceanography that we would like to beg 

 off on, I think, and this is the fisheries problem. Our only contact 

 with the fishing people has been arguing with them over how many 

 fish our seismic shots kill. Actually, it is usually less than a boatload 

 of sport fishermen in a weekend, but that is our only contact with 

 fisheries, and we do not feel competent to say anything on the sub- 

 ject of m.arine biology ; so I am going to leave that out. 



Now, before I turn the floor over to my colleagues, the subject of 

 company policy Avith respect to Government research will perhaps 



