NATIONAL OCEANOGRAPHIC PROGRAM LEGISLATION 561 



Mr. Casey. Of course, oil exploration, that started on dry land and 

 just went on out in the water as they found that the oil-bearing sands 

 or stratas projected out kind of in a shelf, and as you say, in fact, they 

 charge them a bonus and an annual lease for the right to prospect out 

 there, but they think it is worth a gamble. 



As I understand it, you would not favor the Government going into 

 the production business ; is that right, as such ? 



Mr. Frantz. That is my opinion, yes. Actually the expression of 

 that opinion goes further than I intended to go. 



Mr. Casey. I felt from your response to Mr. Dow that you took the 

 position that what you considered prospecting was just determining 

 whether something was there and then making it known to the pub- 

 lic so that they would be induced to go after it on their own. 



Mr. Frantz. That is correct, sir. 



Mr. Casey. Because I felt tliat being a nuan who struck out on his 

 own here and having gone into a new business, felt like the Govern- 

 ment should not be getting into any fields that were not properly its 

 sphere, and I wanted to develop that a little further. Also it is in 

 conflict with the previous statements we had here in which the oil 

 industries had made the broad statement by one representative who 

 said he was not speaking for all of the oil industry but was speak- 

 ing for the American petroleum industry, they were a little afraid 

 of this, Government getting into the business, so to speak, of ex- 

 ploration and development of resources. 



I certainly appreciate your appearing here also and taking your 

 time from your business and making this journey to Washington to 

 give us the benefit of your views as a small businessman and we 

 certainly welcome you at any time because you can be most helpful 

 to us. 



Mr. Frantz. Thank you very much, sir. 



Mr. Casey. Mr, Keith, did you have anything else? After all, 

 this is a real friendly witness and you want to develop him all you 

 can. 



Mr. Keith. I would just like to tell him that I did not prear- 

 range the performance of my colleagues on this committee. They 

 have been more than generous with their conunents concerning me 

 and just modest in their expressions of gratitude concerning your 

 visit here today. 



Mr. Casey. He should have made you put in the record what you 

 told me before you left.. It was very complimentary to you, Mr. 

 Frantz, and it shows that you both have equal admiration and respect 

 for each other. 



Thank you very much. 



Mr. Frantz. Thank you, Mr. Chairman. 



Mr. Casey. We have now Prof. Charles Stephan. Professor Ste- 

 phan is chairman of the Department of Ocean Engineering, Flor- 

 ida Atlantic University, Boca Raton, Fla. 



Have you ever heard of that, Mr. Rosrers ? 



Mr. RooERS. Yes, indeed, Mr. Chairman, and I want to say I am 

 delighted to see the professor here; and some of our members had 

 the opportunity to visit Florida Atlantic University, which is a 

 new State university in Florida, to see what they are doing in this 

 field. It is a very exciting program that they are developing there 



