Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...members of the Organization of Petroleum Exporting Countries into production cuts that some of them, at least, will eventually find intolerable. Needing greater revenues, these oil countries would buck the cartel, increase output-and lower prices. The U.S., said Kissinger, intends to reduce oil imports from about 7 million bbl.- per day now to 6 million bbl. by the end of 1975-and to only 1 million bbl...
...belt tightening can be useless if it is not exercised internationally. Kissinger proposed that "by the end of 1975 the industrialized countries reduce their consumption of oil by 3 million bbl. a day over what it would be otherwise." Over the next ten years, he suggested, the industrialized consumers should reduce energy imports from the present one-third of their total energy use to only one-fifth...
Sheik Ahmed Zaki Yamani, Saudi Arabia's urbane Petroleum Minister, often professes a desire for the price of oil to come down. Last week he said that his government had indeed decided to lower the price by 40? per bbl., in a move designed to "take from the oil companies and give to the consumer." However enticing that Robin Hoodish remark might seem to suffering consumers, the consequences promise to be different from what they would expect. The cost of oil to the major companies -and to their customers-stands to rise about 50? per bbl...
...peaceful means do exist to put pressure on OPEC. Because the U.S. has technical know-how, financial might and far more abundant domestic energy reserves than most other nations, it can, with determination, reduce its dependence on the cartel's oil. America now burns 16 million bbl. of oil daily. Of that, 6.3 million bbl. a day-or 35% of the nation's oil consumption and 18% of its total energy-flows from abroad. If the U.S. could pare its oil demands by 1 million bbl. a day -a mere 3% of all the energy that it uses...
...national restlessness that led one observer to update Descartes's Cogito, ergo sum for America: "I move, therefore I'm alive." And the tax would be effective. The Federal Energy Administration reckons that every penny of such a surcharge would reduce gasoline consumption by 25,000 bbl. a day. The highest tax considered-30? a gallon-would save 700,000 to 800,000 bbl. a day in the first year, and one million bbl. daily by the third year as motorists curb their driving more and more...