Word: bbl
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...convention area in the International Banquet House. They were there to hear bids announced for federal lease sales in the Beaufort Sea, which perhaps contains some of the richest untapped deposits of oil and gas in the U.S. The fields are believed to hold as much as 2.3 billion bbl. of oil and 1.8 trillion cu. ft. of natural...
...doubt in my mind that our national security was at stake. In 1973, at the time of the oil embargo, we were importing about 35% of our oil. When I took office, our dependence on uncertain foreign oil supplies had grown to almost 50%-about 9 million bbl. a day. We were the only developed nation without an energy policy, and our total energy consumption was at a record high. The program put into effect during my term has now reversed the movement toward disaster. In some ways the bitter four-year struggle that proved necessary made the final victory...
...upside-down funnels, collecting gas and oil. The natural gas is siphoned off through a 6-in.-wide pipe that runs along the ocean bottom to shore. The oil will be stored in tanks within the pyramids and periodically emptied by ships. The project is expected to yield 50 bbl. of oil and 600,000 cu. ft. of gas a day, which will not be enough to offset the $8 million investment made by ARCO and its partners, Mobil and Aminoil USA, Inc. The capping operation, however, will produce other benefits...
...pollution credit: for every two tons of hydrocarbons they eliminate, they will be allowed one ton of sulfur-and nitrogen-oxide emissions from future drilling in the Santa Barbara Channel. The pact should clear the way for developing a nearby well that could produce as many as 4,100 bbl. of oil a day. Says ARCO's offshore operations chief, Paul Rowley: "We just couldn't do it without the trade...
...country with enough fuel to heat 4.5 million homes per day at peak capacity. Though the pipeline has been plagued by financing problems and construction start-up delays, it is seen by industry experts as an important complement to the Trans-Alaska Pipeline System, which carries 1.5 million bbl. of crude oil per day from Prudhoe Bay on the Beaufort Sea to the port of Valdez, 800 miles to the south. All together, the entire gas-pipeline network is aimed at ensuring adequate fuel supplies for industrial and home-heating use until the turn of the century and beyond...