Oil surged above $76 a barrel after BP began shutting an Alaskan field that pumps 8 percent of U.S. crude this morning. The decision to halt production came after the discovery of “unexpectedly severe corrosion” in the pipelines. There is now speculation that gas prices could break all-time highs in the immediate near future, as a result of the problems. What’s more, anxiety over the Middle East could also influence the price at the pump. While prices might only reach a few cents higher than the previous record national average of $3.057, it’s a psychological barrier most Americans would probably rather not cross.
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08/07, 11:54 AM
posted by:
jchoate
Record of $3.057? It’s been $3.19 , spiking to $3.35, over the last 30 days here in Chicagoland.
I’d be real happy if gas here was only $3.057…
08/07, 12:00 PM
posted by:
teknomusik
I’d be happy if gas was $1 a gallon.
08/07, 12:05 PM
posted by:
Nick
Why didn’t they find this corrosion back when gas was $2 a gallon or $1? Did they just start monitoring this pipeline for corrosion? Funny that this comes at a time when prices are falling. Guess that since the Middle East isn’t pushing prices up anymore, big oil needed something to get the prices back up there. This way they can buy their fifth Maybach!
08/07, 12:09 PM
posted by:
Renton
“I can fix it…..my dad’s a TV repairman and has an awesome set of tools!”
08/07, 12:25 PM
posted by:
British_Rover
According to the article here…
http://www.msnbc.msn.com/id/14219844/?GT1=8404
They monitor the pipelines with X-Ray and ultra sound and do replacment if wall corrison damages the pipes by more then 80%. If it is like a lot of industries where equipment is run long and hard 24 hours a day 365 days a year they basicly run the equipment to outright faliure. They do this because every minute the equipment is down it costs them hundres of thousands perhaps millions of dollars and it is just cheaper to run the equipment to failure then to take it off line and repair it.
08/07, 12:53 PM
posted by:
The Swede
Cheaper than in Sweden..we are getting robbed by the gas stations over here…
08/07, 12:57 PM
posted by:
Jon
Who wants an SUV? I’ve got them for sale, cheap!
Jon.
08/07, 12:58 PM
posted by:
The other Swede
The gas price is 1.74 U.S dollars for 1 liter in Swe
08/07, 1:22 PM
posted by:
Jason
That would be $6.58 per US Gallon (1 Gal = 3.7852 Liters).
Time to buy a diesel car my Swedish friends!
08/07, 1:43 PM
posted by:
Adam
Seriously, when are we NOT creeping up on “record prices?” IT is not like there will ever be a decrease in price. Even if by some fluke the price of oil goes down, gas prices will never change because that just means more profit. It will always be a record high becasue it will ALWAYS go up.
08/07, 1:44 PM
posted by:
jay
Yeah our english friends have had gas prices as far as I know twice as much as here. But the difference is is OUR ECONOMY REVOLVES AROUND this black monstrosity called gasoline.
I’m just happy it isn’t as high as it is over there.
Oh yeah I forgot to mention. The day before yesterday the man who worked in one of these big gas companies (sry, forgot name and don’t have article I saw it on AOL home page. If someone can find the article I would be very pleased) just got one of the fattest amounts of retirement money in the history of this country… What does that tell you?
08/07, 3:21 PM
posted by:
Toy Yoda
It tells me I need to work for the oil companies.
08/07, 3:29 PM
posted by:
The Stig
Or buy stock in oil companies.
08/07, 4:45 PM
posted by:
Interphase
Our current record in the UK stands at the equivalent of just over the $8/gallon mark, and that’s for normal 95RON unleaded. You can add another dollar if you want 98RON super..
08/07, 6:32 PM
posted by:
1c3d0g
Great, let’s feed the damn oil companies with more money…Christ, when will this stop?!?
08/07, 9:39 PM
posted by:
Sean
Everyone here suddenly criticizes capitalism when it is minorly inconvenient to them, meaning that once the oil companies are really going to town on us, people start to take offense. Imagine that, people only complaining when it starts to effect their wallet.
Think it out people, when you have a non-renewable resource that is essential to the processes of a nation, and this resource is controlled by the private sector…you can expect gouging eventually.