1998 Year of the Ocean Ocean Energy and Minerals 



EXECUTIVE SUMMARY 



A resolution adopted by the members of the United Nations proclaims 1998 as the 

 International Year of the Ocean. The objective of this resolution is to focus the attention of the 

 general public, governments, and decision makers on the importance of the ocean and marine 

 environments as resources for sustainable development. In keeping with this focus, the Ocean 

 Principals Group, an ad hoc group of federal government agencies with ocean research and 

 management responsibilities, established three primary goals: 



1 . Promote public awareness and understanding of the value of the ocean, its resources, 



and marine activities to the national welfare; 



2. Ensure that government does all it can and should to promote the exploration, 



sustainable use, and conservation of the ocean; and 



3. Cherish the national heritage associated with the ocean. 



The purpose of this paper is to highlight the importance of domestic ocean energy and 

 mineral' resources to the national economy and welfare. For example, although technological 

 advances continue to enhance cost-effective recovery of ocean oil and gas resources, long-term 

 development should be considered within a national energy policy that balances concern for the 

 environment with energy security for present and future generations. Many resource 

 development issues remain to be discussed among all stakeholders — federal, state, and local 

 governments, industry, and the general public. Among these issues are Outer Continental Shelf 

 leasing moratoria, royalty relief, revenue sharing with and impact assistance to coastal states, 

 marine mineral mining, and environmental protection. It is important that stakeholders be 

 actively involved in the process so that these important ocean resources are developed in a 

 reliable, safe, and environmentally sound manner. 



During this Year of the Ocean, it is important to evaluate the role of ocean energy and 

 mineral resources to the United States and its citizens. To maintain a reliable and cost-effective 

 supply of oil, natural gas, and other minerals from the ocean, the United States must move from 

 conflict to consensus among all stakeholders. This paper presents issues and ideas for discussion 

 at Year of the Ocean symposia and is intended to serve as a catalyst for important policy 

 decisions that need to be made to ensure a sound energy future and economical and 

 environmentally safe recovery of energy and non-energy mineral resources from the seafloor. 



'xhe term "mineral" as used in this paper refers to hard minerals found on and in the seabed: examples are sand, gravel, and shell 

 resources; metals such as manganese, gold, titanium, and polymetallic deposits; sulfide deposits; and phosphates. 



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