Word: bbl
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Dates: during 1970-1979
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...blanc on the Midi documents and rouge on those for the Bordeaux. This meant that he had to sell the Bordeaux white wines as even cheaper Midi whites. But he could also peddle his dirt-cheap Midi reds as more expensive Bordeaux red, at profits averaging almost $100 per bbl. Total windfall on 8,000 to 9,000 bbl.: some...
...peaceful means do exist to put pressure on OPEC. Because the U.S. has technical know-how, financial might and far more abundant domestic energy reserves than most other nations, it can, with determination, reduce its dependence on the cartel's oil. America now burns 16 million bbl. of oil daily. Of that, 6.3 million bbl. a day-or 35% of the nation's oil consumption and 18% of its total energy-flows from abroad. If the U.S. could pare its oil demands by 1 million bbl. a day -a mere 3% of all the energy that it uses...
...national restlessness that led one observer to update Descartes's Cogito, ergo sum for America: "I move, therefore I'm alive." And the tax would be effective. The Federal Energy Administration reckons that every penny of such a surcharge would reduce gasoline consumption by 25,000 bbl. a day. The highest tax considered-30? a gallon-would save 700,000 to 800,000 bbl. a day in the first year, and one million bbl. daily by the third year as motorists curb their driving more and more...
Whatever the size, the Tabascan strike is probably Mexico's biggest ever;* it already has turned Mexico from an oil importer to an exporter of 60,000 bbl. a day. The impact, reports TIME Correspondent Bernard Diederich, has already been felt in the Tabascan capital of Villahermosa, where land prices have soared as much as 2,000% and hotel space is at a premium. Tabascan Governor Mario Trujillo Garcia predicts that Villahermosa's population, now 150,000, will double in eight years. Out in the countryside, where rainfall of up to 400 inches a year keeps...
...Weight. Other Mexicans are enjoying the new weight that oil gives them in world councils. Within two years, Mexican officials think that the country could be exporting 200,000 bbl. a day, enough to put it in the same league with member producers of the Organization of the Petroleum Exporting Countries. Indeed, Mexican officials are expected to begin sitting in on OPEC meetings soon as observers. Mexican President Luis Echeverria Alvarez told President Ford last month that Mexico would export its oil at world prices, diluting hopes that it might undercut those vastly inflated quotes. These just might begin coming...