Energy: Drilling Ahead in the Atlantic

The high court's decision unlocks a new source of supply

Long frustrated by the legal appeals of environmentalists, fishermen, beach-front homeowners and hoteliers, the nation's energy companies at last will begin drilling for oil and gas off the Northeast Coast by early summer. The oilmen won a hard-fought victory last week when the U.S. Supreme Court, by refusing to hear an appeal of a lower-court decision, signaled a go-ahead to exploit acreage near the Baltimore Canyon, which lies 50 to 90 miles off Atlantic City, N.J. The most optimistic geologists estimate that this tract contains up to 1.4 billion bbl. of oil and...

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