Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...fast, say environmentalists. Sticking to the low end of government estimates, the National Resources Defense Council says there may be no more than 3.2 billion bbl. of economically recoverable oil in the coastal plain of ANWR, a drop in the bucket that would do virtually nothing to ease America's energy problems. The NRDC further claims that ANWR's total output would amount to no more than a six-month supply of oil for the U.S.--far too little to have a long-term impact on prices. And consumers could wait up to a decade to reap any benefits, because...
...would help ease California's electricity crisis and provide a major boost to the country's energy independence. But no one knows for sure how much crude lies buried beneath the tundra, with the last government survey, conducted in 1998, projecting output anywhere from 3 billion to 16 billion bbl...
...industry goes with the high end of the range, which could equal as much as 10% of U.S. consumption for as long as six years. ANWR would ease America's more than $100 billion annual foreign-oil bill, the argument goes. And by pumping more than 1 million bbl. a day from the reserve for the next two to three decades, lobbyists claim, the nation could cut back on imports equivalent to all shipments to the U.S. from Saudi Arabia, the world's largest producer. Sounds good. An oil boom would also mean a multibillion-dollar windfall in tax revenues...
...than three times the amount of ANWR's petroleum could be saved if American fuel economy was raised to an average of 39 m.p.g. from current levels of 20.7 m.p.g. Efficiencies generated by a simple upgrade of the replacement tires installed on U.S. vehicles could save nearly 5.5 billion bbl. of oil over the next 50 years, the greens...
...opportunity to invest in its collapsing infrastructure, and it may well fail to pay its foreign debts if prices drop further. "How long it takes before a crisis breaks out depends on oil prices," said Stiglitz. With Courtis predicting that the price will fall past $20 per bbl.--good news, on the other hand, for the U.S. and Europe--the margin between world prosperity and a deep trough seems slim indeed...