Word: bbl
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Dates: during 1980-1989
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Busch's advertising clout has paid off. The company has been the No. 1 brewery for 25 years. Over the past decade, sales have soared 124%, from 24.3 million bbl. of beer in 1971 to 54.5 million bbl. last year. The firm's Budweiser brand is the largest-selling premium-priced beer in the U.S., with a typical retail price of $2.40 a sixpack, while Michelob, the company's "superpremium" offering, at about $2.90 a sixpack, leads that market segment as well...
...back-to-basics strategy. Said he at May's annual meeting: "We are emphasizing established business lines of demonstrated profitability." Despite ambitious efforts to find new oil, however, Exxon's results have been mixed. Since 1978 its oil reserves have dwindled 13%, to 7 bil lion bbl. In the meantime, costly drilling in the Baltimore Canyon and in the Destin Dome region of the Gulf of Mexico has turned up a discouraging number of dry holes. Wall Street stock analysts think that other oil companies may have greater growth potential, and the price of Exxon stock has plummeted...
...Iraqi oil, and at the scattered fields to the west of Basra. A determined Iran could take Iraq out of the oil business for as long as two years. But even if warfare should paralyze the oil industries of Iran, Iraq and neighboring Kuwait, thereby removing about 4 million bbl. per day from world oil markets, the loss could be overcome by Saudi Arabia, which could increase production from its current 6.5 million to 10.5 million bbl...
This formidable axis would enjoy not only substantial military aid from the Soviet Union but also the enormous oil reserves of Iran and Iraq (before the war, combined output reached as high as 8 million bbl. per day) to pay for such arms. More important, Islamic revolutionary ardor could rapidly sweep through the gulf sheikdoms, as well as Saudi Arabia's oil-rich eastern province, particularly if encouraged by Khomeini militants who are so imbued with the notion of a Shi'ite holy crusade. As Iran's military machine gathers its strength at the Iraqi frontier...
...modest oil glut developed in the past year, however, the price of Oklahoma crude started slumping, from a peak of $38 per bbl. to a trough of about $32. Penn Square's once attractive loans suddenly became big burdens for borrowers increasingly unable to repay...