Middle Atlantic Coast
A number of oil companies bought federal leases offshore North Carolina, but in 1990 the US Secretary of Commerce denied Mobil Oil permission to drill after Congress passed the North Carolina Outer Banks Protection Act, prohibiting leasing and drilling on federal seabed offshore from North Carolina. Mobil and Marathon Oil sued the federal government to recover money paid for the leases. The US Supreme Court ruled for the oil companies in June 2000, and ordered the federal government to repay $158 million. The government paid, and the companies relinquished the leases.
Read more about this topic: Offshore Drilling On The US Atlantic Coast
Famous quotes containing the words middle, atlantic and/or coast:
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—Henry David Thoreau (1817–1862)
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—Henry David Thoreau (1817–1862)