Word: bbl
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...Venezuela's 56% boost in its posted prices and Nigeria's announcement that it will almost double its prices, Indonesia announced a 20% rise, to about $6 a bbl. These increases are certain to send up the cost of U.S.-produced oil, which under Phase IV controls is held to an average of $4 per bbl. But "new" oil-all production of a well above last year's total-is exempt from controls, and it is now selling for $5.60 or more per bbl. By next year it is expected by independent producers to leap as high...
...Five other countries joined Libya, Saudi Arabia and Abu Dhabi in shutting off all oil exports to the U.S. Washington officials estimated that the embargo will reduce U.S. supplies, directly and indirectly, by 1,500,000 bbl. to 2,000,000 bbl. a day, or around 10%. That is a serious threat to a nation that had good reason to fear a winter shortage of heating oil even before the war began...
...apparently can expect little aid. Canada, the biggest foreign supplier, has slapped a 40?-per-bbl. tax on oil exported to the U.S. as a means of keeping its fuel at home. (Taking advantage of the tight supply situation, Venezuela, the nation's second largest foreign source of oil, kicked up prices 56%, and Nigeria announced that it would soon post an increase.) So the U.S. must take drastic conservation measures, and some already are beginning. With Government encouragement, three airlines-American, TWA and United-agreed to save jet fuel by canceling 82 flights daily. Round-trip flights between...
TRANSPORTATION. The equivalent of 6,000,000 bbl. of oil a day is burned in gasoline on the nation's highways. The Treasury Department estimates that 1,200,000 bbl. of oil daily could be saved simply by ordering mandatory auto tuneups every six months, imposing a 50-m.p.h. speed limit for passenger cars, and insisting on more extensive use of car pools...
HEATING. If Americans were to lower their thermostats by three degrees and do their laundry in cold water, the country's oil needs would decrease by 730,000 bbl. daily. By insulating heating ducts and pipes that run through unheated spaces as well as weather-stripping and installing storm doors and windows, householders would cut energy demand and reduce their heating bills by an average of 12½%. Substantial fuel savings can also be made by 1) leaving radiators and hot-air registers unobstructed by draperies, 2) cleaning furnace filters at least every two months, 3) opening shades...