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Posted by Jenny Shultz Aug 7, 2006 |
Well, it's plain to all that we are on the verge of World War III as Hezbollah continues to fire rockets into Israel. However, while the Middle East is in flames and Cuba's leadershiop is in jeopardy, Alaska has decided to shut down. Yep! The U.S. imports 8% of it's oil from BP's Alaskan Prudhoe Bay oil Field. Not only are there currently problems, leaks, but this has been a continuous disaster. So, BP has decided to shut down the rig indefinately, cutting oil production by 400,000 barrels per day. So, we are all in for a "crude" awakening. Thus far gas prices are in the mid three dollar range, but are soon to be rising.