Burner Standard Time is the approximation of the time a meeting or event will take place between two attendees of Burning Man, which takes into account the reality that Burners are easily distracted and often late (especially at Burning Man). For instance, 4pm burner standard time should be understood as anywhere between 4:30 and 6pm "real" time.
While it is common parlance at Burning Man, it has application outside of the festival as well.
At Burning Man:
"Let's meet by the temple at at 3 o'clock burner standard time"
Outside of Burning Man:
"Larry is late again!" "Oh, he's still running on burner standard time"
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.
"Base we've got some square groupers floating outside of Miami harbor."