Pipeline Shut Down
BP is shutting down 8% of U.S. oil production by closing an Alaskan pipeline. The pipeline is in danger of causing a big spill if not repaired. It is going to take days to shut down the pipeline. I cannot find an estimate for how long it will take to repair overall. Oil prices are up and may actually overtake the early 80's high according to some analysts.
posted by shadoweyes @ 9:19 AM
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"We estimate it could take between 2-3 months to get it back on line," Bruce Lanni, an industry analyst with A.G. Edwards, wrote in a research note. "However, there are no assurances that it will return to current capacity, given the complexities and age of the reservoirs" From AP story this morning.
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