BPshutting down the alaska pipeline

[Tractorat]

Everyone says that gas is high because oil is in short supply. Now that BP shut down the pipeline, we're all afraid that gas will REALLY go up now. Well, BP says not to worry because there is PLENTY of gas and oil (even with the pipeline shutdown). I thought we were getting raped at the pump because oil is in short supply.

 

[Cummins Thunder]

I try to just ignore the news. I have only watched it once in the past six months.



Oil company this, oil company that, blah blah blah, whatever



Only very few people know the real truth.



IMHO



CJ

 

[EKlem]

From what I understand, one of the big limiting factors is refining capacity. The big problem with hurricane katrina was that it wiped out a lot of the refineries. It also did a lot of damage to some wells but the bigger deal was the refineries. The pipeline that is being shut down is full of crude. So if refining capacity is the limiting factor, it shouldn't affect things too much. Someone please correct me if this is wrong or outdated.

 

[MSchweigert]

For what its worth. It is my understanding that the Alaskan pipe line supplys less than 6 percent of the US total needs. So to me that could mean an increase of about 0. 18 per gal.

 

[TowPro]

For what its worth. It is my understanding that the Alaskan pipe line supplys less than 6 percent of the US total needs. So to me that could mean an increase of about 0. 18 per gal.

and I also remember hearing a lot of the Alaskan oil gets exported to Japan

 

[lethal injection]

I want to know why we pay so much when bp made 13 BILLION PROFIT LAST QUATER.

 

[Rams-n-Hogs]

We pay too much because of one word - SPECULATION! The traders think something is going to happen, so they drive the price up. Right now, there is a $20 per barrel premium on oil for just that reason. The pipeline is just another excuse for the speculators. Oil isn't even following the laws of supply and demand right now. I've been watching too much Squawkbox.

 

[jnelson]

While on a Shell Western Exploration and Production casing job this morning I overheard a M1 drilling fluids company man say that BP has also stopped drilling.

 

[CRuth]

They didnt' shut down the Alaskan pipeline. Just some feeder lines. Supposedly the refineries have a good supply but you can bet any excuse to raise prices is a good excuse to the oil companies

 

[BradyWilliams]

No doubt the Alaska pipeline needs to be maintaned. But I believe that big oil is trying to get every penny in the oil bidding at the commodity exchanges. Why is the pipeline in need of repair right now? Because it's very profitable! Headlines drive commodity prices. I'll give you a headline! Car and truck owners sell Light Sweet Crude short and fight back! If we all could take the money for 1 tank of gas or diesel and sell short on light sweet crude we would be back to 1. 00 a gallon fuel again. Just a thought!

 

[JeepRig]

For what its worth. It is my understanding that the Alaskan pipe line supplys less than 6 percent of the US total needs. So to me that could mean an increase of about 0. 18 per gal.

It says here that it is only 2. 6%, so it should not increase really at all the way I see it. But it will go up using this as an excuse to charge even more.

http://dailynews.att.net/cgi-bin/ne...=business&st=businessbp_malone_060809&src=abc

 

[TX Gooseneck]

When the pipeline was installed they said it had a 25yr life span and was installed 30 yrs ago. They knew this was coming 10yrs ago and could have fixed it.

 

[TGibbs]

We pay too much because of one word - SPECULATION! The traders think something is going to happen, so they drive the price up. Right now, there is a $20 per barrel premium on oil for just that reason. The pipeline is just another excuse for the speculators. Oil isn't even following the laws of supply and demand right now. I've been watching too much Squawkbox.

The oil companies have us right where they want us, we have a very great demand, and they can supply it BUT (isnt there always a but) they arent going to just give it to us. If all of us, including me, did not rely so heavily on oil to run our lives, then prices wouldnt be so high.



There isnt an economy book anywhere that is going to tell the goverment or us what to do with the situation we are in because nothing in the history books has this same situation . The next few years are going to be very interesting with oil and those prices and how they will affect the economy.



Before long instead of water/meth injection, we will just be straight water injection! :-laf



Tristan

 

[Tractorat]

Yup, the pipeline was installed 30 years ago with a 25 year life time. Wonder what they've been doing with all of those profits ? I know it hasnt been drilling for new oil, or opening new refineing plants.

If it were an American company that owned the oil in Alaska, I wonder if the US government would have more leverage agains them. Probably not.



BTW, gas seems to be pretty stable, but Ive noticed that diesel is up about 35 cents in the last few weeks

 

[RustyJC]

BP is replacing gathering system lines between the east end of the Prudhoe Bay field and the main processing facility at Prudhoe Bay. TAPS (the Trans-Alaska Pipeline System) is not being shut down.



Rusty

 

[fkovalski]

They didnt' shut down the Alaskan pipeline. Just some feeder lines. Supposedly the refineries have a good supply but you can bet any excuse to raise prices is a good excuse to the oil companies

You bet!!



This whole "pipeline break" is a scam and a conspiarcy on the part of the oil companies! There is no leak! (has anyone REALLY seen this supposed leak??... no, just pictures of a staged leak!!) It is just another reason for Big Oil to jack up the prices again. It will be all over the media. Enviro- whacko's will be all over the news saying. "See, see- oil drilling= bad, bad. " Prices go even higher.



Then... . nothing will be fixed (cause it A'INT broke) and guess what... . no softening of the prices at the pumps when the repairs (sic) are done! Big Oil will say... "we have to keep gas prices high to pay for repairs to the pipeline... " (which was never broke in the first place. ) B. O. will make EVEN MORE money by this scam! There is no leak, it is all a conspiracy to make more profits!



Hey, stranger things have happened- just ask Vince Foster.

 

[starkmr]

You bet!!



This whole "pipeline break" is a scam and a conspiarcy on the part of the oil companies! There is no leak! (has anyone REALLY seen this supposed leak??... no, just pictures of a staged leak!!) It is just another reason for Big Oil to jack up the prices again. It will be all over the media. Enviro- whacko's will be all over the news saying. "See, see- oil drilling= bad, bad. " Prices go even higher.



Then... . nothing will be fixed (cause it A'INT broke) and guess what... . no softening of the prices at the pumps when the repairs (sic) are done! Big Oil will say... "we have to keep gas prices high to pay for repairs to the pipeline... " (which was never broke in the first place. ) B. O. will make EVEN MORE money by this scam! There is no leak, it is all a conspiracy to make more profits!



Hey, stranger things have happened- just ask Vince Foster.

Would you quit with the sky is falling c***? Do you really think that they would shut down something that is bringing in $30 million per day? Would you?

Now I'm not going to defend them any further than that, they have played price games in the past and IMHO manipulating the market, but to cut production in half when we have record prices per barrel just doesn't make sense to me.



To answer you question, I have not seen this particular leak, but I have worked in Prudhoe and know for a fact that BO will not cut their nose off to spite their face.



People like you inciting fear in this manner is what starts driving speculation up. So step back and read what you wrote and think about it for a minute.



Where is YOUR proof that it is a staged leak?