Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...rate rose from 4.8% to 5.2%. The Bureau of Labor Statistics attributed a "substantial" proportion of new joblessness to shortages of fuel and power. More ominously, Federal Energy Chief William Simon warned last week that the home-heating-oil situation is still "critical," although stocks stand at 185 million bbl., v. 137 million bbl. at the same time last year, when stocks were abnormally low. The big danger: a sudden cold snap could quickly deplete inventories...
...That may well be impossible because Japan and several European nations, including Britain and France, are scrambling to ensure their own supplies of oil with no thought of other countries' problems. France hopes to sign an agreement with Saudi Arabia under which the French will receive 5.6 billion bbl. of oil over the next two decades in exchange for French products. In Japan, the government extended a royal welcome to two barnstorming Arab oil ministers, Saudi Arabia's Sheik Ahmed Zaki Yamani and Algeria's Belaid Abdessalam. They were granted an unusual 30-minute audience with Emperor...
...Arabs are encouraging these bilateral pacts because they want to take advantage of international disarray while they can. Since the production cutbacks began in October, other countries have stepped up their output. Indonesia's daily production has gone from 1.3 million bbl. in September to 1.4 million bbl.; Nigeria's from 2.1 million bbl. to 2.2 million bbl.; Iran's from 5.8 million bbl. to 6 million bbl. If these and other production increases continue and demand remains checked, a return to pre-boycott levels of production by the Arab states could lead to a temporary world...
...Easterners and Prime Minister Pierre Trudeau's government maintain that the oil is a national treasure and that its sale abroad should be controlled and taxed by the federal government. The U.S. is the third party with an interest in the dispute; last year an average 1.2 million bbl. of oil per day, around 7% of U.S. consumption, flowed through pipelines from the Canadian West to the U.S. Midwest...
Indonesia's strongest card is its rapidly developing petroleum industry. The oil crisis has enabled Suharto to boost the price of the daily output of 1.4 million bbl. from $4 to $10.80 per bbl. in the past year. The oilfields are owned by the state oil company, Pertamina, which estimates that it will have a daily output of 2 million bbl. by 1975. The problem is that the nation's new-found oil riches have contributed to the conspicuous consumption of the Indonesian rich (who make up only 3% of the population) but have hardly touched the lives...