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:
“In our calling, we have to choose; we must make our fortune either in this world or in the next, there is no middle way.”
—Stendhal [Marie Henri Beyle] (1783–1842)
“We are eager to tunnel under the Atlantic and bring the Old World some weeks nearer to the New; but perchance the first news that will leak through into the broad, flapping American ear will be that the Princess Adelaide has the whooping cough.”
—Henry David Thoreau (1817–1862)
“Frequently also some fair-weather finery ripped off a vessel by a storm near the coast was nailed up against an outhouse. I saw fastened to a shed near the lighthouse a long new sign with the words “ANGLO SAXON” on it in large gilt letters, as if it were a useless part which the ship could afford to lose, or which the sailors had discharged at the same time with the pilot. But it interested somewhat as if it had been a part of the Argo, clipped off in passing through the Symplegades.”
—Henry David Thoreau (1817–1862)