Word: bbl
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...fuel per hour. The army rides into battle on armored personnel carriers that get three miles to the gal. and in M48 tanks using 1⅓ gal. per mile. By U.S. Defense Department reckoning, the South Vietnamese military goes through fuel at a rate of more than 5 million bbl. per year -a huge amount by Southeast Asian standards...
...fulfill U.S. military contracts-and that included fuel ordered for America's allies. Rather than let South Viet Nam's internal-combustion war machine run out of gas, the Defense Department began siphoning fuel from its own reserves in the Pacific. In November and December, 400,000 bbl. were transferred to Viet Nam from fuel-short U.S. units. (The transfers have recently stopped...
...that cost will quickly multiply. The Communists demonstrated their ability to knock out South Viet Nam's reserves when sappers last month blew up the Nha Be petroleum depot near Saigon, destroying about 50% of the civilian stores. Attacks on the military's reserves of 2 million bbl. might well be part of a major Communist drive. Even if the military reserves remained intact, the drain would be great. If the war steps up again, the South Vietnamese will open the throttle, the Singapore refineries will be urged to open the taps, and the U.S. may well have...
...stocks of gasoline and residual oil (used to power factories and electric utility plants) were slightly lower than a year earlier. But inventories of jet fuels were slightly above those of early 1973, and refinery stocks of middle distillates (heating oils and diesel fuel), at 198.5 million bbl., were a startling 22% higher than they were a year earlier. The total for all major products, 488.4 million bbl., was almost 9% above the amount at the start of 1973. Thus many people are taking a line that goes roughly like this: the companies have plenty of oil to sell...
...Discoveries. Along with peace, Nigeria is also gaining a bit of prosperity. Oil was discovered in the Niger River delta in 1966, and production has reached 2,200,000 bbl. per day, roughly 25% as much as Saudi Arabia was producing before its cutbacks. Gowon has followed the example of the world's major oil exporting nations and announced a 77% increase in the posted price of Nigerian crude, making it $14.69 per bbl. The new price is expected to earn Nigeria some $7 billion this year. In addition, the government currently is mulling over offers, mostly from American...