Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...issued what turned out to be exaggerated assessments of oil spills into the gulf, putting Saddam Hussein's acts of ecoterrorism in the worst possible light. Kuwaiti officials appear to be still overstating the amount of oil going up in smoke: the Kuwaitis say they are losing 6 million bbl. per day (roughly equal to 10% of daily global oil use), a figure U.S. experts say is not credible...
...spill off the shores of Kuwait, which was widely reported to be the largest in history -- some 11 million bbl. -- is now estimated to be one- quarter to one-twentieth that size, making it smaller than the 1979-80 Gulf of Mexico spill at the offshore drilling rig known as Ixtoc I. Similarly, Carl Sagan's well-publicized prediction that smoke from the oil fires could rise 5 to 10 km (3 to 6 miles) to the stratosphere and blanket the globe has not yet come to pass. So far, the smoke clouds are hugging the ground, drifting...
...goodbye to fears of $50-per-bbl. oil. World oil supplies are greater than they were a year ago despite the lack of production from Iraq and Kuwait. With the war over, most experts foresee a temporary plunge to as low as $15, which can only help consumers. Even if OPEC reins in production and maintains a price of $21 per bbl. or so, as it apparently would like, most consumers can live with that, and business had been forecasting such a price for 1991 before Iraq's invasion of Kuwait last summer. Gasoline prices are lower than before...
...certain emirates in the gulf were involved in this "conspiracy." Economic pressure had come into play, with Saudi Arabia, Kuwait and the United Arab Emirates violating the oil-export quotas that had been set down by OPEC. The price of oil had dropped from $21 to $11 per bbl., which, he said, "spelled economic ruin" for Iraq...
...experts say that is not likely to happen. Although putting out the fires could be a difficult and time-consuming task, Kuwait's 94.5 billion-bbl. oil reserves will hardly be dented. Depending on how much damage has been done to other facilities, production could resume within six months after the end of hostilities, Kuwaiti officials say -- though it may be years before output reaches prewar levels. "They will not lose enough to threaten their reserves or their economy or the world oil market in the long term," said an American oil expert...