Word: bbl
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Dates: during 1970-1979
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Even more slippery than Michigan's horse thieves, surely, are the Los Angeles truck drivers who swipe 55-gal. drums of used grease-about $25,000 worth each week-from local restaurants and drive-ins. The goo, worth $40 per bbl., is valuable because it is reprocessed into a food additive that causes cattle and poultry to gain weight. The thieves have oozed up across the nation, but most actively in Southern California, the fastness of fast food. Sometimes posing as legitimate grease collectors, they have cut chains placed on the outdoor grease barrels, smashed through protective iron gates...
This spring, oil hunters will begin probing the Baltimore Canyon, an ocean-floor site off Atlantic City, N.J. They hope to find 1.4 billion bbl. of oil and nearly 10 trillion cu. ft. of natural gas that may lie beneath the continental shelf. Most energy-hungry Americans hope the oilmen find what they are looking for. Anne Simon will be satisfied if they do not make what she considers a bad situation even worse. A veteran coast watcher, Simon has already written an impassioned plea for the preservation of Martha's Vineyard. In her newest book, she appeals just...
Implicit in the discussions was one basic fact of modern oil diplomacy: the U.S. vitally needs Riyadh's continued cooperation. To help the U.S. meet its future energy needs, Washington has urged the Saudis to increase their productive capacity from 11.6 million bbl. per day to 16 million bbl. by the early 1980s. The Saudis can thus exert pressure simply by limiting production...
...well below the going rate for imported oil. Says CEA President Robert Beningson: "The market for resource recovery is almost limitless." Beningson, a man who thinks big, estimates that if all the garbage in the country were converted to powdered fuel, it would add the equivalent of 2 million bbl. a day to the nation's oil supplies, or about the same amount as the oil that will flow through the Alaska pipeline at peak capacity...
...need of more oil income to pay for instant industrialization projects, were making weak requests for an increase of 5% or so. They argued that a boost was needed to make up for worldwide inflation and the dropping value of the dollar, which has cost them 20¢ per bbl. this year...