Word: bbl
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...needy person in this country." The correct amount, according to HEW, is not $3 but 12?. > Reagan claimed: The Federal Government has increased by 131,000 employees in the past three years. The actual increase: 60,000. > Reagan claimed: The windfall profits tax would cost 1 million bbl. in the U.S. a day in lost production in the first year. The U.S. Government estimate: 100,000 bbl. per day. > Reagan claimed: HEW threatened to cut off funds from a Bellingham, Wash., school because teachers were spanking more boys than girls. The threatened cutoff actually involved a school in Bellevue...
...Communist world is down by about 3% from 1979 levels, and in the U.S., oil consumption was by last week a full 10.3% lower than a year ago. This slump in demand has resulted in a softening of spot-market oil prices. Petroleum that was selling for $40 per bbl. in late December now goes for about $33. World oil stocks are now also very high, with supplies running about 1 million bbl. per day above world demand...
...guarantee that long-term prices will remain firm, and even nudge up. The latest to institute the price-propping cuts are Kuwait and Libya, which last week reduced their production by 25% and 17%, respectively, bringing the overall drop in OPEC'S output to 2 million bbl. per day below the autumn 1979 level of 31 million bbl. daily. Some price hikes continue nonetheless. Algeria has put a $3-per-bbl. surcharge on its crude, euphemistically calling it a "down payment against future explorations...
Typical of the new trend was Kuwait's announcement two weeks ago that it is cutting the amount of crude sold to British Petroleum from 450,000 bbl. per day to 150,000 bbl. Earlier, Kuwait had agreed to increase sales to the two largely state-owned French oil companies by 85,000 bbl. daily. Said Kuwait's Oil Minister Ali Khalifa Al Sabah after the decision: "If the oil companies don't like it, they may buy their oil elsewhere...
...property of inestimably greater material value to the scepter'd isle. In The Samson Strike by Tony Williamson (Atheneum; 250 pages; $9.95), the Popular Front for the Liberation of Palestine sets out to capture a vast oil platform in the North Sea that can pump 400,000 bbl. a day from its undersea wells. Unless the terrorists win the release of all political prisoners in Europeplus ?57 millionthey will waste the $400 million platform and set fire to the huge gushers of oil under the so-called Samson rig. The flames, engulfing other oilfields, will...