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August 2006

Pipeline Untested for 14 Years

The severely corroded pipeline that forced the shutdown of the country's largest oil field had not been internally inspected or cleaned by BP Oil for at least 14 years, according to U.S. Department of Transportation records.

The lines at Alaska's Prudhoe Bay oil field carry eight percent of the domestic crude oil production but are exempt from federal regulation.

Pipelines regulated by the federal government are required to be tested every five years.

Read the rest here- The Blotter

Posted by Coffeerooms August 08, 2006 Permalink

BP shuts Alaska oilfield

The outage will cut global daily oil output by about half a percent, putting more strain on an already tight market. Beutel said he believed the news in Alaska was outweighing even new threats out of Iran to shut production there if that country is hit with United Nations sanctions over its nuclear program.

"This is almost all Alaska," he said about Monday's price hikes. "It doesn't look like something that will have a quick fix or can be ignored by the markets. I think it's going to be measured in weeks, not days, and it could drag on for months."
BP shuts largest U.S. oil field due to damaged pipeline - Aug. 7, 2006

Posted by Coffeerooms August 07, 2006 Permalink

Castro Steps Down Temporarily

For the first time in 47 years, Fidel Castro has temporarily relinquished power to his brother, Raul. He is recovering from intestinal surgery and will require several weeks of rest. Castro remains out of sight after surgery

Posted by Coffeerooms August 01, 2006 Permalink