Word: bbl
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...California," which suggested that Brown could act on his own to relieve the problem. By relaxing some state environmental regulations that are stricter than federal standards, such as on the lead content of gasoline, and strictly enforcing the 55 m.p.h. speed limit, California could save an estimated 55,000 bbl. of gasoline per day. That would certainly help bridge the gap between supply and demand: the state's gasoline supplies in May probably will fall about 70,000 bbl. per day below those of a year earlier. At Carter's side, Energy Secretary James Schlesinger declared: "I think...
...abide by immensely confusing DOE regulations. At issue is the seemingly simple distinction between "old" oil and "new" oil. Under the price controls that Jimmy Carter will begin to phase out next month, petroleum discovered before 1973 can be sold only at a price that now averages $5.86 per bbl. More recently discovered oil fetches $13.06 per bbl. The companies are accused of selling the old oil to refineries for the new-oil prices...
...source, OPEC oil is cheaper than dirt. The cost of drilling, pumping and moving it from the Saudi Arabian deserts to Persian Gulf ports, for example, is about 30? per bbl. That is less than 1? per gal, since there are 42 gal. in one barrel. But by the time the crude is shipped, refined and sold as gasoline to U.S. motorists, the price rises more than...
...first and biggest boost is made by the Saudi government. Its royalties, fees and taxes bring the price per barrel up to the cartel rate of $14.55, or 35? per gal. Shipping adds about $1.25 per bbl., or 3? per gal. But the actual cost of the journey is perhaps no more than a few cents a barrel. The difference is the profit for the tanker operators to help cover the expenses of maintaining huge, often idle fleets and sending empty tankers back to the Middle East...
Refineries pay about $15.80 per bbl. or 38? per gal. for the Saudi crude. But they actually get a big refund from the complex U.S. Government entitlements scheme. This reduces the refineries' real cost to $14.30 per bbl...