Word: bbl
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...rise of the national brands, and it was about to go out of business when Maytag bought it in 1965. A novice, he became a master brewer and turned what some considered a wealthy man's hobby into a serious business. Last year Anchor Steam produced 33,500 bbl. of beer, and while most of that is sold in California, it is available in at least some stores in 22 states...
...threat to most Western economies. "We are in a different world now," he says. The U.S. currently imports only 3% of its oil from the gulf, compared with 13% in 1979. The general view is that if the gulf's present output of 7 million to 8 million bbl. a day, 40% of which comes from Saudi Arabia, were to be cut off, the vacuum could be largely filled by increased exports from nongulf producers such as Nigeria, Mexico, Venezuela, Indonesia and Libya...
...addition, many countries maintain strategic reserves. The U.S. alone has 400 million bbl., and the Saudis have at least 60 million bbl. stored on tankers at sea. "For three months," says Fliakos, "we could go on as if nothing had happened." Most experts agree, however, that a closure of the gulf would have a strong psychological impact and lead to a sharp, if temporary, increase in world oil prices of perhaps 20%. Among the countries most seriously affected would be Japan (which imports 58% of its oil from the gulf), Italy (46%), Spain (39%), and France (35%). In response...
...long retreat at Camp David with a plan to free the U.S. from its bondage to OPEC oil. He proposed creating an $88 billion Energy Security Corporation that would encourage alternative energy projects, primarily through loan and price guarantees. The ambitious goal to produce the equivalent of 2.5 million bbl. of oil per day by 1990. When Carter signed the Energy Security Act on June 30, 1980, he declared, "The keystone of a national energy policy is finally being put into place...
Among more affluent voters, issues that cut against Hart in the East should help him in Texas, particularly his vote against the windfall-profits tax on domestic oil and his proposal of a $10-per-bbl. fee on imported oil. Furthermore, Hart has inherited many of John Glenn's deep-pocketed donors. Oil Baron James Calaway, who helped raise $1 million for Glenn, raised $125,000 for Hart in a single evening this month. In the Texas caucuses, however, organization and party loyalty count for more than money. Hart's Yumpies (young upwardly mobile professionals) are likely...