Word: bbl
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Dates: during 1990-1999
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...only or even main cause for war, whatever the cynics say. Would the U.S. have fought to conquer the Middle Eastern oil fields if Saddam Hussein had peacefully persuaded Kuwait, Saudi Arabia et al. to restrict production enough to shoot the price up to $40 per bbl.? Get real. The central issue is aggression, and how -- make that whether -- it can be contained in the post-cold war world. And forget all the moaning about shedding blood to keep feudal autocracies in control of Kuwait and Saudi Arabia. One might well wish for more appealing victims and potential victims...
...1970s, when Big Oil's "obscene" profits inspired a wave of legislative controls. The oil companies contend that they have heeded President Bush's admonition to show restraint at the gas pump. In fact, while oil prices at the end of last week stood at about $33 per bbl., or 65% higher than they were just before Iraq invaded Kuwait, average U.S. gasoline prices were only 31% higher, or $1.38 per gal. for unleaded regular. Said Holly Hutchins, a spokesman for Shell Oil: "We gave up a considerable amount at the pump to meet the President's request...
...presence of U.S. troops in the region, have halted all oil exports to Jordan. Despite the U.N. embargo, Amman continues to get 80% of its oil from Iraq, which is credited against Baghdad's $310 million debt to Jordan at the less than market rate of $16 per bbl. But fuel purchases on the open market this year could total nearly $900 million...
...going to take some real stability in the price. If the price steadies out at $25 to $28 per bbl. and stays there six months, then at least wildcatters and investors won't be scared...
...operators of thousands of small marginal "stripper" wells. Collectively they produce about 1.2 million bbl. per day. Many of these old wells have been shut down or need to be reworked...