The Peak Oil Crisis: Labor Day 2006
What a difference a month makes. Just four weeks ago Hezbollah and the Israelis were engaged in the heaviest fighting the world has seen since the US overran Iraq.
When the fighting started, oil prices jumped on concerns that oil exports might be affected. In July there were fears US motorists might draw down the country’s gasoline reserves during the summer driving binge. Soon thereafter, BP noticed that some of its Prudhoe oil pipelines were rusting through, threatening an important share of the US’s West Coast oil supply. Finally, the hurricane season was about to begin.
( Read on )
When the fighting started, oil prices jumped on concerns that oil exports might be affected. In July there were fears US motorists might draw down the country’s gasoline reserves during the summer driving binge. Soon thereafter, BP noticed that some of its Prudhoe oil pipelines were rusting through, threatening an important share of the US’s West Coast oil supply. Finally, the hurricane season was about to begin.
( Read on )
posted by Oil Shock at 8/31/2006 04:22:00 AM
0 Comments:
Post a Comment
<< Home