One of many resources.
Quick recap of the hit to Oil & Gas Production.
No Quick Fix for Gulf Oil Operations - New York Times
"The hurricane, one of the most severe storms to hit the United States, crippled the nation's foremost oil-producing region at the worst possible time for American and global energy markets.
It will probably take days, or even weeks, before the full extent of the damage is fully revealed. Repairs are likely to drag on for months.
'The market can't afford any disruption whatsoever,' said Ben Dell, an analyst at Sanford C. Bernstein & Company in New York. 'As it happens, we just had the worst disruption ever.'
Most of the oil and gas production from the Gulf of Mexico remained shut off yesterday. The region, which usually produces 1.5 million barrels of oil and 10 billion cubic feet of gas each day, accounts for nearly a third of domestic oil production and a fifth of its natural gas output.
Because of flooding and power disruptions, many refiners along the gulf coast in Louisiana and Mississippi remained shut for a second day."
No comments:
Post a Comment