Word: bbl
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Dates: during 1970-1979
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Canada is one of the three largest foreign suppliers of crude oil to the U.S. It ships 800,000 bbl. daily to northern-tier states and the Midwest, accounting for 20% of U.S. imports, about equal to inflow from Nigeria. Last week the Canadian National Energy Board issued a report showing that the country could lose self-sufficiency by the early 1980s if exports to the U.S. continued at present levels. Accordingly, Ottawa's Minister of Energy, Mines and Resources, Donald S. Macdonald, announced that exports to the U.S. would be cut by 100,000 bbl...
Reason for the planned cutback, according to Prime Minister Pierre Trudeau: Canada's tar-sands oil reserve probably totals around 500 billion bbl., equal to that of the Middle Eastern nations but contained in sands deep beneath the Alberta soil and thus far too expensive to tap. Canada cannot even take full advantage of all the oil that it is now pumping; a cross-country pipeline goes eastward from Alberta and Saskatchewan only to Toronto. Thus, while Canada exports some of its western production to the U.S., it is forced to rely on imports to supply its eastern provinces...
...metals can easily be recycled to make new products. Beyond that, the great mass of combustible refuse can be sold to power companies or factories as a supplementary fuel that could lessen U.S. dependence on high-priced foreign oil by as much as 150 million bbl., or about 7% per year. Everybody thus benefits from the efficient use of solid wastes, especially the municipalities that can turn the headache of garbage disposal into the pleasure of profit...
...Cajon, near San Diego, Occidental Petroleum's Garrett Research and Development Co. and the Environmental Protection Agency are jointly building a test pyrolytic plant that when completed in 1976 will have a capacity of 200 tons per day. For every ton of garbage that goes in, 1 bbl. of oil will come out, ready for sale to San Diego Gas & Electric Co. If the system were used nationally, San Diego officials say, the oil from garbage could amount to anywhere from 8% to 15% of the U.S.'s energy requirements...
...increase to Aramco averages out to 50? per bbl., the Saudis will be taking in an additional $1.5 billion a year; this year their oil revenues will be around $25 billion. But offering lower prices to other buyers would do little to alleviate the petrodollar crisis, says Oil Economist Walter Levy...