Word: bbl
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Rusting and broken pipelines and stretches of barbed wire litter the sand around the deserted town of Ras Sudr, once a dusty bedroom community for Egyptian and foreign workers at the nearby oilfields. The wells of Ras Sudr produce only 3,000 bbl. of crude a day−a trickle by Middle Eastern standards and only a fraction of the 75,000 bbl. daily pumped out of Abu Rudeis. But the desolate, cactus-covered patch of desert with its huddle of workers' decaying cottages has a considerable symbolic importance. Under the second Sinai accord worked out last summer...
...Mexico, presiding over a dynamic entrepreneurial economy while talking a medium-left, aggressively Third World line; and one South American, the impressive Carlos Andres Perez of Venezuela. Perez heads one of the only two working democracies in South America (Colombia is the other), and he has oil, 2.4 million bbl. a day. He is not self-righteous about his country's democracy (he is too well aware of Venezuela's turbulent history), and he is too smart to seem to reach for any continental "leadership" role. He has large economic plans for Venezuela and many discontented citizens...
...present, "old" oil-crude pumped in amounts equal to what was produced in 1972-accounts for two-thirds of domestic output and is price-controlled at $5.25 per bbl. "New" oil is uncontrolled and sells for about $14 per bbl. Thus the average price of all U.S.-produced oil is roughly $8.75. Under the proposed law, that average price would be rolled back immediately to $7.66 per bbl. and thereafter allowed to rise by 10% a year...
...April 1977 could partially exclude from the domestic price ceiling the oil that will begin by then to flow from Alaska. Such a move would raise overall domestic oil prices at a slightly faster rate. On the other hand, the bill would require Ford to jettison the $2 per bbl. tariff that he has imposed on imported oil, which now fetches about $15 per bbl. in the U.S. Other provisions of the bill would require both automakers and appliance manufacturers to improve the energy efficiency of their products, guarantee loans totaling up to $750 million to mine operators wanting...
...settlers, the railroad is closed. So are the iron mines. The coffee crop, most of it rotting on the bushes, will be one-fifth the size of last year's, and diamond production will also drop by more than 50%. Only oil production remains relatively untouched; 120,000 bbl. per day were still being pumped out in the northern enclave of Cabinda -though with last week's reported increase in unrest, that source of wealth also seems likely...