More Oil Cartel Price Gouging? BP Cuts Production In Alaska

22 de may de 2007

<body><div id="article"><tr><td height="28" valign="middle" width="184"></td><td valign="middle" width="185"></td></tr><h1>More Oil Cartel Price Gouging? BP Cuts Production In Alaska</h1><p>May 22 (LPAC)--British oil giant British Petroleum (BP) has shut down one quarter of its 400,000 barrels-per-day production at Prudhoe Bay, Alaska, after discovering a "produced water" spill May 21, according to Reuters. Produced water is water trapped in underground formations and brought to the surface with oil or gas. BP, formerly known as British Petroleum, gobbled up American oil companies Amoco and Atlantic Richfield in the last decade, and has seen a number of disasters at its facilities, from a deadly explosion at its Texas City refinery in 2005 to an oil spill at Prudhoe Bay in 2006. U.S. Rep. Bart Stupak (D-Mich.), head of the investigations arm of the House Energy and Commerce Committee which is examining the 2006 spill, blamed budget cuts at BP for the incidents. "It appears to be yet further evidence that BP's cost-cutting culture has put our nation's economy at risk," Stupak said.</p></div></body>