Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...consumers, the second part of this one-two punch is exaggerated oil prices. While the world is swimming in crude oil, it already trades at an inflated price of $30 a bbl., a level essentially dictated by Saudi Arabia with the approval of the U.S. government. This translates into swollen prices for gasoline, home heating oil and other petroleum products. What's worse is that because of Congress's three decades of fumbled energy legislation, Americans have become more vulnerable than ever to an interruption in foreign supply that would truly send prices into orbit and cripple the U.S. economy...
...PRODUCTION AND IMPORTS: PROMISES, PROMISES. In 1973, with the country importing 6 million bbl. of crude oil and petroleum products daily, President Nixon pledged that by virtue of his Project Independence "in the year 1980, the United States will not be dependent on any other country for the energy we need to provide our jobs, to heat our homes, and to keep our transportation moving." He advanced a catalog of energy proposals that covered everything from drilling on the outer continental shelf to building more nuclear power plants, from expanding the use of coal to conducting research on potential...
...Washington's wandering attention was focused again on energy. Following Nixon's lead, President Carter pushed development of synthetic fuels as part of his strategy to slash imports. When he signed the Energy Security Act into law in June 1980, Carter said it would "encourage production of 2 million bbl. a day of synthetic fuels by the year 1992." That didn't work either: synthetic-fuel production ended up slightly in excess of zero, and oil imports totaled 6.9 million bbl. a day that year...
...incentives, U.S. oil production would rise, and there would be less need for imports. In each instance, legislation was accompanied by extravagant forecasts not only by lawmakers but by energy-company officials as well. In 1974 policymakers predicted that U.S. oil production "could increase to more than 17 million bbl. a day, which is more than sufficient to be at zero imports by 1985." The Reagan White House shared the optimism. A spokesman said that "the ranges that any reasonable person is considering include zero [imports] by 2000." By that year, however, imports were at their highest level ever...
...reduction would be modest. Even if the ANWR would yield 1 million bbl. daily of crude oil, as suggested by the President, by the time pipelines are built and production gets under way, the oil would displace less than 10% of U.S. imports. And there are no guarantees for the 1 million bbl. In the early days of the North Slope project, politicians predicted that consumers would get 3.8 million bbl. of crude oil daily out of Alaska "by the end of the century." Instead production hit a high of 2 million bbl. in 1988--the only year at that...