Monday :: Aug 7, 2006

British Petroleum To Replace 73% Of Prudhoe Bay Line

by Steve

Boy, that’s one hell of a line maintenance program that BP has. With all those profits from refining operations they have skimmed over the last several years, too bad BP didn’t invest very much if any at all in a line replacement program. Their Prudhoe Bay line has deteriorated so bad that they will now have to replace 73% of it all at once, at a critical time. This would seem to ensure higher oil prices during the fall election unless Bush taps the Strategic Petroleum Reserve to save the GOP’s skin, which the Energy Department is ready to do upon request.

Update: California's refiners say that the Prudhoe Bay shutdown will have little effect upon the state's supplies for the next 30-60 days, as less of our oil comes from Alaska than it did in the past. So if prices go up here in California anyway and stay up, then we know it will be because of speculation and gouging.

Steve :: 11:48 AM :: Comments (38) :: TrackBack (0) :: Digg It!