BP Spill Threatens Gulf of Mexico Oil, Gas Operations

The growing oil slick fed by an underwater leak in a BP Plc well in the Gulf of Mexico may threaten production, shipping and refining of oil and natural gas in Mississippi, Alabama, and Louisiana.

Those three states account for 19 percent of U.S. refining capacity as of 2009, according to data from the U.S. Energy Department’s Energy Information Administration.

“Traders are nervous about how fast the slick could grow,” and whether it could have a significant effect on oil and natural-gas production, said Andy Lipow, president of Lipow Oil Associates LLC in Houston.

Read Full Article from BusinessWeek

- Posted: 2010-05-03 10:55:59

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