Word: bbl
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...U.S.S.R. and its East European allies buy three-fourths of Cuba's sugar for about 400 per lb., vs. a world price of 90. In return, the Soviets sell Cuba nearly all the oil it burns, at $14 per bbl., about one-third below the world price The Soviets and the Eastern bloc also buy most of Cuba's nickel, its other major export, at prices about 50% higher than world levels, and fund most of Cuba's industrial development. Projects financed by the U.S.S.R. supply 30% of all Cuba's electricity, 95% of its steel...
...during the recess three management consulting firms hired by the Senate Budget Committee concluded that the President's goal of 2 million bbl. of synthetic fuels a day in ten years was unrealistic and potentially wasteful. The consultants advised that it would make more sense to try several different approaches on a modest scale and then decide which ones were feasible...
...President speedily granted, Begin appeared to ignore the importance to Sadat of broadening the peace beyond the borders of Egypt and Israel. At the Haifa press conference, the Israeli Premier proudly announced the agreements: Sadat's promise to sell oil to Israel from the Sinai fields (14 million bbl. annually, with the price to be decided later); the decision to establish joint Egyptian-Israeli army patrols in the Sinai, at least until the U.S. can put together a multinational peace-keeping force; and Israel's willingness to return to Egypt ahead of schedule the monastery of St. Catherine...
...course, not even in the middle of the Mississippi can a President entirely escape controversy. After he disclosed that he had approved the sale of 1.5 million bbl. of U.S. heating oil to Iran, he got into a shouting match at Quincy, Ill., with critics of the move. Carter said testily: "You want me to tell them not to ship us any more [crude] oil?" As for charges that the President was drifting far from the demands of his job, Press Secretary Jody Powell hotly retorted, "What he has been doing here is the single most important thing he could...
...Carter Administration's decision to sell 1.5 million bbl. of heating oil to Iran on an emergency basis drew some caustic criticism in the U.S., not only because of the coals-to-Newcastle nature of the transaction but because the U.S. itself is expected to be short of heating oil this winter. But the Administration, in defending the sale, pointed out that Iran needed the oil quickly because of sabotage on pipelines near the big Iranian refinery at Abadan. The White House also argued that the sale could have important advantages for the U.S. in paving a new relationship...