This article reviews the conflicts that led to the establishment of a special Congressional Committee on offshore oil and gas exploration, development, and production and the attempted resolution of various issues by that Committee and the Congress in the 1978 Amendments to the Outer Continental Shelf Lands Act of 1953. A short review is provided of the history of Outer Continental Shelf (OCS) development, of the conflict between the federal government and other interested entities and persons, and of the Congressional mechanism to respond to these conflicts. A more detailed analysis is provided of the most significant OCS issues. The article describes the various risks and benefits of offshore activity and the various benefits and risks of proposed changes in the law concerning such development. A review of the Congressional mechanism to assess these risks and benefits and balance them is included in a discussion of the various issues and legislated solutions. Finally, the article notes the need for continuing oversight and review of the benefits and risks and how effective the 1978 Amendments are in balancing them.