Word: bbl
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Dates: during 1970-1979
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...like nothing better than to regale skeptics with their accomplishments. Clarence Hollett of Willow Shade, Ky., styles himself as "the Mr. Doodlebug." In the dowser lexicon, doodlebugs are a special breed - diviners for oil. Hollett, a rotund, barrel-chested man, says he has found wells that produce 1 ,000 bbl. a day and, if only he hadn't been swindled by so-called friends, he might be a millionaire. He also dabbles in healing and dowses for gold. "Don't believe me?" he asks, and promptly borrows a gold ring from a cynical listener. Hollett's divining...
...congressional budget office estimates an additional .7 to .8 trillion cu.ft. a year; consumer groups that favored the bill say no increase at all will occur. Both the Senate Energy Committee and DOE predict that by 1985 greater production of natural gas will save the nation 1.4 million bbl. a day in imported oil. Consumer groups deny there will be any such saving. Much depends, of course, on how innumerable lawyers interpret a bill that even they have trouble understanding. But at least, after 18 months, the Senate finally voted on a national plan to conserve energy...
Imports are expected to pick up rapidly during the rest of this year and reach new records in 1979, above last year's peak of 8.7 million bbl. a day. These projections have not been lost on the OPEC nations. Although they agreed to continue the cost of crude oil at its present $13 per bbl. when they last met in June, there have been signals from OPEC oil ministers that they may meet again as early as next month to jack up the price about 5%. To the present $42 billion cost of the U.S.'s annual...
North America. In response to severe criticism of U.S. energy profligacy, Carter made two important promises-to raise oil prices in the U.S. to world levels by 1980 and to reduce U.S. oil imports from a projected level of 11.5 million bbl. a day to 9 million bbl. by 1985. Congressional opposition to tax increases on oil will make that difficult. On the other hand, oil imports in this year's first half declined to 7.8 million bbl. a day-almost a 13% drop from the same period in 1977 -because conservation is working, and oil is arriving from...
Independent oil brokers in Scotland, who claimed to have received reports directly from the rigs, said that the field could contain as much as 13 billion bbl., nearly as much as Alaska's North Slope. By comparison, Britain's North Sea fields are thought to contain anywhere from 19 billion to 30 billion bbl...