Print

Email story

Comment

Email editor

Settlement a win for Florida coast

As efforts to allow more drilling in the Gulf of Mexico keep popping up in Washington, Gov. Jeb Bush and the state Cabinet will send another clear message Wednesday that Florida will not tolerate oil rigs off its coast. They are poised to approve a momentous $12.5-million settlement with Coastal Petroleum Company to buy back Gulf drilling leases. That should end any possibility that drilling could occur in state territorial waters that extend about 10 miles offshore.

It's been a long fight. Coastal Petroleum has owned three leases for oil and gas exploration since the 1940s. They cover hundreds of thousands of acres along the Gulf Coast. In theory, Coastal could have built oil rigs seven miles from such precious spots as Anclote Key near Tarpon Springs, Sanibel Island near Fort Myers and St. George Island near Apalachicola. In practice, the state has fought Coastal in court for years and Coastal has never drilled a single well.

After two significant court victories, the state has negotiated a reasonable settlement. When the state banned drilling in coastal areas in 1990, it did not address Coastal's existing leases. Coastal actually filed an application to drill an exploratory well nine miles off the coast of St. George Island's pristine beaches in 1992. It isn't smart policy or smart politics to continue to rely on a never-ending court fight to forever protect the shoreline.

Coastal's lease payments over the years, plus simple interest, add up to about $8.7-million. The $12.5-million quietly tucked into the state budget for the settlement is not out of line and far less than the hundreds of millions that Coastal originally sought. It does not appear that any speculators will be getting rich, and Florida's coast will be better protected.

Floridians have to remain vigilant; there still are dozens of drilling leases in the Gulf waters between 10 and 100 miles off the coast. But the settlement with Coastal is a significant milestone that will protect the Gulf waters closest to the shoreline. Every recent governor and attorney general have wrestled with this situation, and Bush and Attorney General Charlie Crist deserve credit for bringing it to a successful conclusion that benefits all Floridians.

[Last modified May 31, 2005, 00:44:11]