Just in time for hurricane season--5%+ of US oil production going offline
From AP:
[Update--make that eight percent. I was relying on something I recently read which place US oil production at seven million barrels a day, which would make 400,000 barrels equal 5.7%. Apparently our daily output is down to five million bpd.]
BP Exploration Alaska, Inc. began shutting down the Prudhoe Bay oil field Sunday after discovering unexpectedly severe corrosion and a small spill from a transit pipeline.I'm pretty sure that won't be lowering the price at the pump.
Company officials said it would take days to shut down the oil field. Once completed, it's expected to reduce oil field production by 400,000 barrels a day.
[Update--make that eight percent. I was relying on something I recently read which place US oil production at seven million barrels a day, which would make 400,000 barrels equal 5.7%. Apparently our daily output is down to five million bpd.]
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