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BP shuts largest US oil field due to damaged pipeline
"(Oil analyst Peter) Beutel said he expects about a 5 cent a gallon rise in gasoline futures due to the pipeline problems. The outage will cut global daily oil output by about half a percent, putting more strain on an already tight market. "
Really damn sad that we're so dependant on oil, regardless of the source, that a half of a percentage point decrease can cause that kind of price jump.
"(Oil analyst Peter) Beutel said he expects about a 5 cent a gallon rise in gasoline futures due to the pipeline problems. The outage will cut global daily oil output by about half a percent, putting more strain on an already tight market. "
Really damn sad that we're so dependant on oil, regardless of the source, that a half of a percentage point decrease can cause that kind of price jump.
