Word: bbl
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Dates: during 1970-1979
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...Gulf. Rising prices will surely keep profits up, but the oilmen nevertheless have problems: they may have to close some refineries because of an inability to get crude. Mobil last week announced that after Dec. 31 it will "mothball" an East Chicago refinery that has been processing 47,000 bbl. per day of crude for small independent oil companies. Small oil distributors will be really pinched. John Fiore has been supplying diesel fuel to barges, tugs and fishing boats in Boston harbor for 40 years, recently at the rate of 60,000 gal. a week. Last week he sold none...
Potentially, shale oil is a fabulous fuel. It requires no costly hit-or-miss exploration, no ocean rigs, no precarious negotiations with foreign governments. Instead, it is a U.S. resource, locked in immense quantities-estimates range from 600 billion to 3 trillion bbl. - in rock formations throughout the semi-arid Rocky Mountain states. But no major shale-oil development could begin until the Federal Government, which owns between 70% and 80% of the oil-bearing lands, decided to lease out its deposits. That decision, in turn, depended mostly on how serious the environmental effects of mining would...
Those benefits start, of course, with the fact that the U.S. needs the oil. Economical methods have been developed to get it (estimated cost per bbl.: around $6, or about as much as that of newly found U.S. oil). In each of these, the shale is literally chewed up and cooked. Under heat, the kerogen in the rock yields a heavy oil similar to petroleum crude. As an environmental plus, shale oil contains very little sulfur. At first glance, Interior's program might appear to be too tentative and cautious for an energy-starved nation. Of the Federal Government...
...auctions beginning in January will have to invest $200 million to $250 million just to get the oil out of the rock. Return on that investment will be slow, because construction of mines and refineries will take about five years. The first plants are expected to produce 250,000 bbl. of shale oil a day. That is only 1% of the nation's daily demand for oil-"a teacup," says one oilman. The justification is that if all goes well, the shale-oil industry could be expanded to provide 1 million bbl. a day by 1985, and eventually perhaps...
...horsepower. In a General Motors test, Buick Electras used 21% less gas at 50 m.p.h. than at 70 m.p.h. Smaller cars have saved as much as 30% by driving at 50 m.p.h. rather than 70 m.p.h. According to the Environmental Protection Agency, the nation would conserve 2,100,000 bbl. of oil daily-more than the anticipated daily production of Alaska's North Slope-if the average weight of U.S. cars was reduced from 3,500 Ibs. to 2,500 Ibs. The EPA has also rated 1974 models for economy. The most efficient automobiles in some different weight categories...