CBS Evening News for Monday, Mar 17, 1975
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(Studio) Supreme Court rules unanimously federal government not states owns offshore oil deposits. Decision clears way for administration to lease these offshore oil deposits.
REPORTER: Roger Mudd
(DC) Geologists estimate area covered by court's decision may hold 20 billion barrels of oil. [Secretary of Interior Rogers MORTON - anticipates revenue from offshore to be $5-6 billion per year Govt. now considering sharing revenue with states.] Protection of environmental is another controversial issue in this matter. [MORTON - says environmental must be protected in any development] Atlantic coast govs. not surprised by decision, but all are disappointed. [Governor Brendan BYRNE - thinks states should be fairly compensated for their offshore oil interests.]
REPORTER: Nelson Benton