Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...fact is that conservation of energy not only saves the environment but also pays off financially. Last year the President's Office of Emergency Preparedness concluded that the U.S. could reduce energy consumption by the equivalent of 7.3 million bbl. of oil a day; that would save about $11 billion in foreign exchange...
...produced more oil than it consumed; its purpose was to protect the high-cost domestic industry from low-cost foreign imports. But since 1970, when the nation's growing energy needs turned it into a net oil importer (the U.S. currently is importing an estimated 6,000,000 bbl. per day), the quota system has proved to be unwieldy, inflexible and a hindrance to oil-industry planners, who could never be certain of future foreign supplies. For example, uncertainty over supplies of crude oil from abroad has been a prime reason that the industry has not built enough...
...acreage annually leased by the Federal Government to oil companies. The order will encourage further exploitation of the U.S.'s rich reserves on the continental shelf with new and environmentally safe techniques. Administration experts estimate that the additional offshore drilling alone could raise oil production by 1.5 billion bbl. a year (or 16% of projected demand in 1985) and gas production by 5 trillion cu. ft. (20% of demand...
British estimates place current world production of oil at about 19 billion bbl. a year, and project that it must rise to 35 billion by 1980 and to between 45 and 55 billion by 1990 to satisfy global consumption needs. However, said Drake, "Our estimate is that the remaining proven conventional reserves of oil amount to 570 billion bbl." Sir Eric stated: "We believe there are potential reserves of another 1,080 billion bbl. In addition, we think we could get about 700 billion bbl. of oil from tar sands and another 3,140 billion bbl. from oil-bearing shale...
Refineries are simply not turning out as much gasoline as motorists want to buy. Production currently is running around 42 million bbl. a week, but consumers are buying about a million barrels a week more than that. The excess is being siphoned out of gasoline inventories, which are about 16% below those of a year ago. This summer, demand is expected to hit 50 million bbl. a week. One main reason: manufacturers put nearly 11 million new cars on the highways last year, and more of them than ever before are equipped with air conditioning and other power options that...