What, exactly, are they doing this for??? So far, it's just insinuation that oil companies will find something useful from the study. Somehow, I doubt that the US Dept of Interior, under the current regime, is interested in exploring for oil.
Was there a sentence buried in there about something as innocuous as a sea level study? Yes, the National Science Foundation awarded the money based on an application that makes this case.
Sadly, I'd guess that this is really just about lining the pockets of educrats at the expense of the taxpayer. The Rutgers President has his prestigious position because he is very adept at raising vast sums of money, both from the government and the private sector (pharmacies are the big target in NJ), for the benefit of the University.
I doubt there is any reason for people to get their underwear bunched over potential oil rigs. Rutgers just wants the millions that they get for another useless study funded by you-know-who. In case anybody has any misconceptions about the noble people who run our sainted institutions of higher learning ... it's always about the money. While they pontificate about the quest for knowledge, social justice, environmental preservation, yada, yada, yada, they are mainly interested in lining their pockets, living a country club lifestyle, building beautiful edifices for themselves, job security, full benes (yes, healthcare and pensions that most of us can only dream about) ... and having it all on the backs of government grants, alumni endowments, and most of all, the exploding crisis of student debt.
Don't worry, it's just crony capitalism (don't mistake that for free-market capitalism) in all it's glory.