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Is the BP Prudhoe Bay Shutdown More Serious Than It Appears?
Production from the Prudhoe Bay field has declined over the past five years. The average well production rate was about 546 barrels of oil per day in 2001, 375 barrels per day in 2002, 350 barrels per day in 2003, 317 barrels per day in 2004 and 293 barrels per day in 2005.
Deploy tinfoil hat: Is it too far out to wonder if BP simply had to shut the thing down because they're not extracting enough oil?
Obviously, "rusty pipeline" sounds better than, "not enough oil to fill the pipeline." And now, in a research note, AG Edwards analyst, Bruce Lanni, is telling investors to expect up to 10% less output when the pipeline is brought back online:
Original pipeline diameter 34 inches, replacement pipeline diameter 18 inches.
Originally posted by Relentless
Wow Dbates - this is a horse of another color entirely!
I still think te timing is suspect or at least convenient, but this capacity aspect is most disturbing & telling.
"After only one week on the North Slop of Alaska, Senator Chance had said to me, "Almost everything said to me [about the energy crisis] by those briefers from Washington, D. C. was a lie,'"
"[After proving the find at Gull Island an ARCO executive] went on to say, 'Chaplain, America has just become energy independent!'...The energy crisis had just come to a screeching halt-this ought to hit the front page of every newspaper in America...but before an announcement was made the government forced them to cap it and seal the records which documented the find...WHY!?"