Business & Finance: Undersea Oil

Fishermen twelve miles off the Louisiana mainland in Caillou Bay are inclined to swear when they come in sight of what looks like a gigantic harbor buoy sticking up between two scows. A structure they think improper to the high seas, this is no buoy but one of several oil derricks erected in the bay by Texas Co. Called "deep-sea drilling," Texaco's operations are in water no deeper than 25 ft., but geophysical crews mapping off-shore contours often have to take dynamite soundings. The fishermen claim that any fish not killed or scared...

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