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Saudi Arabia and other OPEC members agreed during the summer to pump more to make up for the lost supply.
Jobs will be lost, supply chains will be disrupted, every sector of our economy will feel the impact.
Fortunately, spot markets are emerging for a host of commodities, and buyers can use these to make up for the lost supply.
No one was hurt, and Israel was expected to be able to fill in for the lost supply until the pipeline is repaired.
Many countries grumbled but complied, particularly after Saudi Arabia and other countries made it clear they could replace the lost supply.
ABP owns meat processor Silvercrest which lost supply contracts with Tesco, Aldi and Co-operative supermarkets after horse and pig DNA was found in burgers it supplied.
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Hospitals also lost supplies by the ton.
DfID have refused to disclose exactly what the lost supplies were.
But many refineries on the Gulf Coast are designed to handle heavier crudes like those produced in Canada, and they are looking to replace lost supplies from Venezuela, which has a tense relationship with the United States.
Instead, the massive leak at the Aliso Canyon storage site left California electricity providers racing to replace the lost supplies to avoid blackouts and recurring outages in the coming months.
The immediate price rise may have been even higher had the Bush administration not immediately signaled that it was ready to release oil from the Strategic Petroleum Reserve to ease lost supplies.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com