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Bush on $4 gas: 'I hadn't heard that'
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[QUOTE]Originally posted by glassman: [QB] [QUOTE]Originally posted by retiredat49: [qb] Interesting video.... http://video.google.com/videoplay?docid=3340274697167011147 [/qb][/QUOTE]yeah that is interesting, i'll do some followup dd.. it is quite possible theres much more oil there than has been "proven"... i beleive the pumping of nat gas back into wells is to maintain pressure. there may not be as much to actually "haul off" after a short while, if they didn't keep pumping it back into the wells tho... remember the "good old days when oil was "only" $75 per barrel? [b]Pipeline Closure Sends Oil Higher BP to Halt Production of 400,000 Barrels a Day in Alaska By Steven Mufson Washington Post Staff Writer Tuesday, August 8, 2006; Page A01 After noticing an oil spill on a deserted stretch of frozen road in Alaska's North Slope in early March, workers needed three days to find the quarter-inch-wide hole in a pipeline, just where it dipped into a culvert to allow the caribou to pass. News that BP would have to suspend production equal to 8 percent of U.S. petroleum output for an indefinite period helped push the price of crude oil up by 3 percent yesterday, to $76.98 a barrel on the New York Mercantile Exchange. The price jump underlined the fragility of world oil markets, already anxious about the thin cushion between global supply and demand and potential threats to flows from Iran, Nigeria, Iraq and the hurricane-prone Gulf of Mexico.[/b] [URL=http://www.washingtonpost.com/wp-dyn/content/article/2006/08/07/AR2006080700131.html]http://www.washingtonpost.com/wp-dyn/content/article/2006/08/07/AR2006080700131. html[/URL] [/QB][/QUOTE]
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