Word: bbl
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Dates: during 1970-1979
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...offshore to tap deposits under the ocean floor. One of the hottest exploration areas stretches along the Atlantic Coast from Maine to North Carolina, ranging from 50 miles to 300 miles offshore. Oilmen estimate that that area of the continental shelf may hold between 122 billion and 169 billion bbl. in potential petroleum resources-roughly 25 to 30 times as much as the U.S. consumes yearly. But a classic battle is shaping up between oilmen and environmentalists over whether to develop this possible resource...
...enormous shallow-draft ship, which he calls the "ecology tanker." If built as planned, it will look almost roly-poly-890 ft. long, 170 ft. wide, but drawing only 39 ft. fully loaded. At this draft, it can slide easily into most major ports, while still carrying 800,000 bbl. of oil. Much more maneuverable in narrow channels than the monster tankers (thanks to powerful "thruster" propellers set at right angles to its bow and stern), the ship will include several safeguards against oil leaks. One drawback: it will cost at least 8% more to build than a conventional tanker...
...tankers get bigger and bigger, the number of ports they can enter gets smaller and smaller. There are only about 20 commercial harbors in the world deep enough to serve the Nisseki Maru, a new Japanese behemoth that stretches 1,139 ft. long, carries almost 3,000,000 bbl. of crude oil and draws 89 ft. of water. Such monster tankers -each representing a potentially catastrophic oil spill-pump their cargoes into oil depots at the deep ports. Then smaller vessels take the oil to final destinations along the coast...
...Pertamina, the state-owned oil monopoly, several foreign firms-including U.S.-owned Atlantic Richfield Co. and Union Oil Co.-recently began producing oil from wells in the Java Sea and adjacent waters. Already the major oil producer in the Far East, Indonesia expects to pump out 1,000,000 bbl. a day this year and 2,000,000 daily by the mid-1970s. That would about equal the present output in Iraq...
...interest in earthwork at Boeing has hardly taken the company out of the skies. On the contrary, Boeing engineers are producing ever more spectacular aircraft designs, including one for a twelve-engine "brute lifter" three times the size of the 747 jet that could haul, for example, 8,000 bbl. of crude petroleum. Recent successes in aerospace sales accounted for almost all of the company's nine-month earnings of $18.2 million this year, up nearly $1,000,000 over the same period in 1970. But Boeing's new outlook may well provide a striking glimpse into...