Word: bbl
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...standards. To that problem must now be added the question of reliable supplies and stable prices for the coal that the Carter policy recommends. During the strike so far, with overall coal production cut by about half, affected utilities have kept operating partly by burning an extra 400,000 bbl...
...Supreme Court, by refusing to hear an appeal of a lower-court decision, signaled a go-ahead to exploit acreage near the Baltimore Canyon, which lies 50 to 90 miles off Atlantic City, N.J. The most optimistic geologists estimate that this tract contains up to 1.4 billion bbl. of oil and 9 trillion cu. ft. of natural gas. That would be equal to all the oil and gas now drilled in the U.S. in six months...
...delayed by environmental worries. Fishermen have long sought assurances that the bank, vital to Massachusetts' $500 million-a-year catch, would be protected from even the slightest risks of pollution. Oilmen, who estimate that there may be 180 million to 650 million bbl. of oil and from 1.2 trillion to 4.2 trillion cu. ft. of natural gas in the region, sought to calm the fishermen's fears by promising to take proper precautions against leaks and spills. The Interior Department tried to counter objections by reducing the size of the proposed sale from 155 tracts to 128 covering...
Last week's cancellation was merely the latest obstacle to offshore oil exploration. In a sale held 18 months ago, 39 oil companies paid $1.13 billion to lease drilling tracts in the Baltimore Canyon, an area east of Atlantic City, N.J., that may contain up to 1.4 billion bbl. of oil and 9.4 trillion cu. ft. of natural gas. But a suit by New York's Suffolk County, which is worried about the impact of oilfield accidents on its $ 1 billion-a-year fishing and recreation businesses, has kept the oilmen ashore. "It's not fair," laments an oil company...
China's production, although modest in comparison with its estimated reserves, has multiplied roughly six times in the past decade. In 1977, by Western estimates, it reached 1.8 million bbl. a day, edging ahead of Indonesia in output. Because they are beginning to convert their industries from coal to oil. the Chinese keep most of the oil for themselves. Only 10% of the nation's production is exported, mostly to Japan to finance the purchase of much-needed industrial and technological equipment. China's aim is to quadruple production, to roughly 8 million bbl...