Monday, August 07, 2006

Gas is going up...

In an attempt to make everyone ride the bus, the price of a barrel of crude oil just pass $76. This jump of over a dollar in one day is in response to BP's announcement that they are shutting down the Prudhoe Bay Oil Field. This shutdown will result in an estimated 400,000 fewer barrels being produced every day. For more information on the duration and causes of this shutdown you can read the press release. Want to see the statistics on the increasing gasoline and oil prices? Check out the Energy Information Administration's (EIA) petroleum page. According to the EIA, gas is up 3.4% over the past week and 67% from last year. For more information on energy, check out our subject guide. To learn more about the current shutdown from BP and it's effect on the market, check out the New York Time's article "Oil Prices Rise After Field in Alaska is Shut" (when this link dies the CU community can find the article in the Proquest Newstand database).

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