Word: bbl
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...true energy wealth. Rising prices make it worthwhile for oilmen to drill into sites that previously were considered too risky or too costly to develop. Some experts figure that new oil finds in the four-state region could add about 50% to the nation's 29 billion bbl. of "proven" reserves and 40% to the 212 trillion cu. ft. of natural...
America's oil shale, which is estimated to contain about 75 billion bbl. of recoverable crude, is also concentrated in the region. Elaborate pilot projects to get the oil are planned by Occidental Petroleum in western Colorado and Union Oil in southeastern Wyoming. The investment would be hefty-$120 million for Union's 20,000-acre test site designed to produce 9,000 bbl. daily-but there is a strong chance that Congress will approve a $3 tax credit for each barrel produced...
...Louisiana and east Texas, and in many coal seams all over the country. Because it is costly, the development of unconventional gas had been blocked until natural gas price controls were lifted last year. Now Carter anticipates production to reach the equivalent of 500,000 to 1 million bbl...
Though the U.S. has some oil-saturated tar sands, they are not large or accessible enough to justify expensive exploitation by the Government. But some 76 billion bbl. in oil, about three times the nation's proven reserves of conventional crude, are known to be recoverable from the shale rock concentrated in western Colorado and stretching into Utah and Wyoming. No plants are in operation at present, but at least five companies are running experimental digs in the area. To produce a barrel of oil, about 1½ tons of rock must be mined and heated...
Because of inflation and increasing costs of environmental controls, price predictions for building synfuel plants have been rising steadily. The new range is from $1 billion to $3 billion for an oil shale or coal liquefaction plant that would produce 50,000 to 100,000 bbl. a day. A coal gasification plant would run some $1.5 billion. Ever climbing costs have kept estimated prices of producing synfuels persistently dancing ahead of world crude prices. In 1973, when oil was $3.50 a bbl., oil from shale was figured at $4.50. Just before OPEC'S latest price rise, when crude...