Word: bbl
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...have the clout to meddle in the petroleum market. Last Thursday, Gore proposed that the U.S. control rising oil prices by tapping a small portion of the national Strategic Petroleum Reserve. A day later the Clinton Administration announced that it was releasing 30 million of the 570 million bbl. now stockpiled in salt caves along the Gulf Coast of Texas and Louisiana. The idea, said Energy Secretary Bill Richardson, is to correct extreme shortages in the heating-oil supply. "This is not political," he said. "The President wants to help the American people...have enough heat in their homes...
...would pour millions of barrels of oil from America's Strategic Petroleum Reserve onto the market in coming weeks. The proposal, which has circulated among a few top Administration officials and could soon be approved by President Clinton, involves offering a "swap" of crude oil from the 580 million-bbl. SPR to private oil companies. They would bid to take the oil now, then make repayment in kind, plus a premium, in 12 months or less. In other words, for every barrel an Exxon-Mobil took out, it would return that barrel and a little more--the more...
When President Clinton proposed giving $1.6 billion in military aid to fight drug lords in Colombia last week, he probably never thought of the U'Wa Indians. But the tribe is fighting off attempts by Occidental Petroleum to drill for an estimated 1.5 billion bbl. of oil on ancestral lands in the northeast of the country; hundreds of the U'Wa are currently involved in a tense standoff with Colombian troops trying to remove them from drilling sites...
...free ride by being classified as light trucks. For the past four years, opponents have annually attached a rider to the Department of Transportation's budget prohibiting the DOT from raising the standards to equal those for ordinary cars--a move environmentalists say would save 1 million bbl. of oil a day. Backers of the rider argue that they are protecting auto-industry jobs and giving consumers the vehicles they want, but now they are running into stronger opposition. Next week the Senate may consider a complicated parliamentary move proposed by three Senators--one Republican, Slade Gorton of Washington...
...least one colleague had urged him to quit. God was also on his mind. Bush had been opening up to his faith, reading the Bible seriously for the first time in his life. "I believe my spiritual awakening started well before the price of oil went to $9 per bbl.," Bush says today. But he acknowledges that 1986 was a watershed year in his life, "a year of change, when I look back on it." He pauses. "I really never have connected all the dots that...