Word: bbl
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...They're hoping to mimic London-based Tullow Oil, which discovered some 2 billion bbl. of oil in landlocked Uganda over the past four years. Last month, Texas-based oil company Anadarko Petroleum Corp. announced that it had tapped a giant reservoir of natural gas off the coast of Mozambique. "Anadarko's find went off like a bomb here in Houston," says Robert Bertagne, a Texas-based oil wildcatter. "It was, 'Wow, we are finding large quantities of gas, and that means we have hydrocarbons in the area.' Once you have a discovery, more people are going...
...Explorers salivate in particular at the prospect of peace in Somalia. Oil reserves in the blocks licensed to two small oil companies, Africa Oil and Range Resources, could contain as much as 10 billion bbl. Nobody is talking about producing oil in Somalia anytime soon, but analysts say oil companies are less likely to be intimidated by political risk than they were in the past. They point to oil production in south Sudan, where a 20-year civil war that ended in 2005 threatens to reignite. "Definitely, there is a sense that there are discoveries to be had," says...
Nevertheless, high-speed rail is an idea whose time has come - at least for environmentalists. According to Environment America, high-speed rail uses a third less energy per mile than auto or air travel, and a nationwide system could reduce oil use by 125 million bbl. a year. In addition, high-speed rail represents the kind of long-term infrastructure investment that will pay back for decades, just as the interstate highway system of the 1950s has. "This is a down payment on a truly national program," said Biden, who has logged more than 7,900 round trips...
...inspectors were out and the sanctions changed, which they were going to do," he continued. "Now, I think that it is at least arguable that he was a threat, that had we taken that decision to leave him there, with an oil price not $25 but $100 a bbl., he would have had the intent, he would have had the financial means, and we would have lost our nerve...
...Without the energy revolution that the IEA says is necessary, oil prices will rise by 2020 to about $100 a bbl. in pre-2008 dollar values and by 2030 to about $115 a bbl...