Ocean Policy Trust Fund
April 20, 2004 7:40 PM Subscribe
In the first sweeping review of US Ocean management in 35 years the Presidential appointed U.S. Commission on Ocean Policy has released a report recommending creation of the Ocean Policy Trust Fund to be funded by off-shore oil companies in exchange for drilling rights to the tune of $5 billion a year. Initial reactions are mixed. All praise the reports acknowledgement of serious Ocean mismanagement problems, but some think the report has no teeth, or there is a hidden oil industry agenda. Whatever happens with this amount of money it will be big, the last report in 1969 led to the creation NOAA.
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