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Nigerian rebels were damaging oil pipelines.
Crude oil prices slid Tuesday by $5.75, to $109.71 a barrel, down 25percentt from the high on July 11, as Hurricane Gustav passed near New Orleans without damaging oil production facilities.
Instead, one mishap after another, including damaging oil and sewage spills and quarrels over public morality, has turned Rio's prime vacation and tourism season into an ordeal.
Despite climate change and the damaging oil spill in the Gulf of Mexico, I am sure other major players will join in this cynical new "race to the Arctic".
There is more than enough room within that framework for very damaging oil price spikes if the timing doesn't work out right.Expected total supply relative to expected total demand is only one factor at work in oil markets.
The damaging oil spill off the coast of Spain is a sobering reminder that the world's heavy reliance on oil for energy carries environmental risks that need more urgent attention than they have been getting.
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Decision-making — including how to restart damaged oil wells and share oil revenues — must be transparent.
Total claims from Katrina, which damaged oil rigs, flooded New Orleans and left hundreds dead, may reach $60 billion, according to Risk Management Solutions.
Iraq's interim oil minister, Thamir Ghadhban, told reporters that he hoped repairs to the country's badly damaged oil fields would allow oil exports to resume "next month".
The shortage of parts and technology forced Iraqi oil workers to resort to pumping methods that kept the oil flowing but badly damaged oil reservoirs.
THE OIL INDUSTRY -- The storm damaged oil refineries, but it did not cause the widespread destruction of the energy infrastructure that some had feared.
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CEO of Professional Science Editing for Scientists @ prosciediting.com