Word: bbl
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...hostages were released. More recently, the Japanese have been playing the world oil glut to their advantage in dealing with Iran. Several Japanese trading houses in May struck deals with the Iranians to get oil at 200 to 500 below OPEC's official price of $28 per bbl...
...aggressive activity in world energy markets reflects the country's experience in the early 1970s. Few nations went through a more wrenching readjustment after the 1973-74 oil shock, when the price of crude rose in less than a year from about $2 to more than $11 per bbl. Before those hikes, Japan's oil consumption had been growing at 15% annually, encouraged by a government policy that de-emphasized the use of coal. When the price of oil jumped, Japan's economy teetered. Factories closed, unemployment rose, inflation zoomed. The Japanese economic miracle appeared...
...when the second energy shock hit, in 1979, when OPEC increased prices from $13 to $24 per bbl. in the wake of the Iranian revolution, the Japanese had learned to deal with oil shortages. They not only survived that crisis, they prospered. Industrial production was up 10% during the second half of 1979, and oil consumption was down 2.8%. In the first two quarters of 1980, the gross national product went...
That may seem like an unusual business credo, but it has apparently worked for Ted Badgerow, 32, the president and co-founder of Real Ale, a tiny brewery that opened last September near Ann Arbor, Mich. He plans to produce about 600 bbl. this year. Badgerow, a former cook, is one of a growing number of proprietors of so-called microbreweries, which specialize in richer and more flavorful suds than the typical American beer. Such breweries have been winning intense local followings wherever they appear. "The micros are a response to the demand for more elegant beer that sprang...
...number of beermakers has shrunk from some 1,500 before the beginning of Prohibition in 1920 to only 42 today, including the microbrewers. Just six Breweries now have 90% of the beer market. But while Anheuser-Busch (1982 sales: $4.6 billion) turned out 59 million bbl. in 1982, none of the nine micros produces as much as 10,000 bbl. a year...