Word: bbl
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...that it would abandon its oil heating system, switch back to anthracite coal. Prime reason for the change was the fact that fuel oil stocks have been reduced 20% since September to a ten-year low, with a consequent rise in "Bunker C" prices from $1.05 to $1.80 per bbl. To the oil industry Equitable's decision meant not only the loss of 70,000 bbl. worth of business annually, but a dangerous precedent...
...proration officer to stop "hot oil" shipments, a 56-year-old engineer named Richard Denny Parker. Last week Mr. Parker resigned just before two of the commissioners signed an order for his dismissal on the grounds that under his administration "hot oil" shipments had jumped to 90,000 bbl. per day. Officer Parker, long connected with the Commission as an engineer and supervisor, did not take his discharge lying down. Cried he: "Apparently I made the fatal mistake of firing political favorites of all three commissioners. . . . Every time I fired one, some one of the three commissioners would...
...visit law courts. He was not worried by litigation. In fact he often fell asleep on the benches in courtrooms. A rival oilman had his first lease cancelled in court and Crazy Jack declared incompetent. A local businessman was appointed his guardian. Soon his farm was producing 12,000 bbl. of oil a day and his income had reached $60,000 a month...
Operating costs are so high that a factory ship and its fleet of chasers must average a whale a day to break even. The average blue whale produces about 100 barrels of oil worth around $1,000. World production rose from 1,300,000 bbl. in the 1928-29 season to 3,600,000 bbl. in the 1930-31 season. This was more than the world could use either in soap or in European margarine. So in 1931-32 most of the Antarctic companies declared a whaling holiday and production dropped to 775,000 bbl. In the season just closed...
...holdings of the late Thomas B. Slick, "king of wildcatters," "richest independent operator in the world," that even after he sold the major part of his Southwestern leases to Prairie Oil in 1929 for $35,000,000, he still had 112 wells in Oklahoma producing 20,000 bbl. a day. These holdings, known as the Slick-Urschel Oil Co., have been managed since his death by Charles F. Urschel, ransomed from kidnappers last summer (TIME, July 31, Aug. 7), and by Mrs. Slick who became Mrs. Urschel. Slick Oil has sold most of its output to Stanolind Crude Oil Purchasing...