Word: bbl
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Dates: during 1970-1979
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...rerouted daily through the Panama Canal to the Gulf or East Coast ports at additional costs of more than $1 million. And although independent California oilmen are protesting a surplus that has forced them to close, or "shut in," some wells, the West Coast continues to import 400,000 bbl. a day from Indonesia...
This bizarre situation has been caused by a combination of bad planning, bureaucratic bungling and environmentalist zeal. Contrary to the expectations of oil companies when the Alaskan pipeline was proposed, the West Coast states just cannot use all the North Slope output of 1.2 million bbl. a day, primarily because energy-saving measures have cut anticipated demand. A federal oil-pricing scheme has further reduced the use of California's own oil within the state...
...standards. To that problem must now be added the question of reliable supplies and stable prices for the coal that the Carter policy recommends. During the strike so far, with overall coal production cut by about half, affected utilities have kept operating partly by burning an extra 400,000 bbl...
...Supreme Court, by refusing to hear an appeal of a lower-court decision, signaled a go-ahead to exploit acreage near the Baltimore Canyon, which lies 50 to 90 miles off Atlantic City, N.J. The most optimistic geologists estimate that this tract contains up to 1.4 billion bbl. of oil and 9 trillion cu. ft. of natural gas. That would be equal to all the oil and gas now drilled in the U.S. in six months...
Last week's cancellation was merely the latest obstacle to offshore oil exploration. In a sale held 18 months ago, 39 oil companies paid $1.13 billion to lease drilling tracts in the Baltimore Canyon, an area east of Atlantic City, N.J., that may contain up to 1.4 billion bbl. of oil and 9.4 trillion cu. ft. of natural gas. But a suit by New York's Suffolk County, which is worried about the impact of oilfield accidents on its $ 1 billion-a-year fishing and recreation businesses, has kept the oilmen ashore. "It's not fair," laments an oil company...