Word: bbl
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...world's crude production, resulting in a tightening market that is rapidly forcing up prices. Quotes for the small amounts of crude that are regularly traded on the spot oil market have climbed as much as 30% since the outbreak of hostilities, to $39 and even $41 per bbl. Administration officials now fear this will spur militant members of OPEC to boost their own long-term prices correspondingly when representatives of the 13-nation cartel gather in Indonesia next month...
...outsold cars in the U.S. for the first time. Five years ago, an average of 470,000 Americans commuted to work on bicycles on any given day, and Washington hopes that by 1985 as many as 2.5 million will be on the streets, saving as many as 77,000 bbl. of oil a day. OPEC and the huge American self-regard coincided to persuade millions of Americans that the bike makes both financial and cardiovascular sense...
...other member nations of the International Energy Agency hold estimated reserves equaling a 150-day supply of imports. Also, Saudi Arabia, the United Arab Emirates and Qatar are partly compensating for the war-induced shortfall by raising their production levels as much as 1.5 million bbl...
...tanker traffic were interrupted through the Strait of Hormuz at the southern end of the Persian Gulf. That 36-mile-wide channel has been the lifeline for some 40% of the non-Communist world's total supply. Experts fear that the price of oil could soar beyond $100 per bbl., triple the current price, if the war were to widen or the strait were to be closed...
...Japanese tanker Shin Aitoku Maru looks like any other ship as it plies the Sea of Japan with a cargo of more than 11,000 bbl. of crude oil. But when the breeze comes up, a microcomputer unfurls a pair of rectangular canvas sails and aligns them to the wind. Stretched tight by rigid metal frames, the 40-ft. by 26-ft. sails resemble windmill paddles more than the billowing canvases of a windjammer. Yet the sails enable this 20th century clipper to move at speeds of up to twelve knots under wind power...