Word: bbl
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...fleshed out in two Monday speeches, in Kansas City and Detroit. The most immediate improvement that Carter could mention on the energy front came in the form of news from abroad, that Saudi Arabia had agreed to increase its pumping of crude oil by 1 million bbl...
...rate of 9.5 million bbl...
...Import quotas, effective immediately, flatly prohibiting the landing of more than 8.5 million bbl. per day?slightly more than now. That would fulfill a pledge Carter made at the Tokyo summit not to increase imports...
...Strategic Storage. One of the most critical functions given to the department was creation of a strategic petroleum reserve, a 1 billion-bbl. oil stockpile designed to offset shortages created by such interruptions as the Arab oil embargo of 1973. But when Iranian production was cut earlier this year, that reserve, which was supposed to stand then at 250 million bbl., had reached only 60 million bbl. Incredibly, DOE had not installed the pumps necessary to retrieve the oil from the Louisiana salt domes into which it was being pumped. Those pumps were finally installed last month...
Even with the spill, estimates are that the Bay of Campeche contains reserves of well over 5 billion bbl., an amount equal to all that the U.S. imports over 20 months. So the company plans to place twelve new rigs in the area this year...