Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...treating their country as a "surge tank": drawing on it for supplies when shortages threaten, cutting back again when the pinch eases. That policy is economically as well as politically shortsighted. Canada could offer much fuel at prices below U.S. quotes; Canadian crude now sells for $2.75 a bbl. In return the U.S. could offer Canada sales outlets for oil reserves, which Canadians at present have neither the capital nor the domestic markets to develop. Oil wells in Alberta, which could produce 1,700,000 bbl. daily, are now capped for lack of markets in either country. Assurance...
...harsh, demanding and dangerous mistress. And yet the island gives as awesomely as it takes. Located 103 miles offshore, its pipelines stretch thousands of yards across the ocean floor. Drawing from seven big reservoirs 7,000 ft. beneath the primordial ooze of the gulf, it can pump 28,000 bbl. of crude oil to the mainland each day through its 7-in. pipeline...
...world's oil-producing nations and changed the balance of power between oil-producing and consuming countries. Under the stiff provisions of a new, five-year pact, the posted price of Persian Gulf oil-on which royalties and taxes are calculated-will rise by 35? per bbl. The producing companies' taxes will also go up 5%, to 55%. Every year until 1975, the companies will pay an additional 5? per bbl., plus 2½% to compensate for anticipated worldwide inflation. All in all, the oil companies will pay $1.2 billion more in royalties and taxes this year...
After weighing the needs of ecology and economy, the Interior Department last week issued a long-awaited report approving the proposed 800-mile oil pipeline running from Alaska's North Slope (estimated reserves: up to 10 billion bbl.) to Valdez on the state's southern coast. Compiled by Interior geologists, ecologists and engineers, the report called the oil "essential" to U.S. security, especially in light of the Middle East's political instability, and concluded that stiff regulations on the pipeline can "reduce foreseeable environmental costs to acceptable levels...
...exert leverage on Washington. The Suez Canal has been closed since the Six-Day War in 1967, but American-owned companies have continued to pump oil. The most serious disruption occurred last May, when a bulldozer accidentally severed the Trans-Arabian Pipeline (Tapline) in Syria, cutting off 480,000 bbl. a day. Syria has refused to allow repairs, presumably in order to embarrass the conservative regime in Saudi Arabia, which is losing $100,000 each day that the pipeline remains closed. Now tankers must carry the bulk of oil produced in the Arabian Gulf around the Cape of Good Hope...