[CitizensTruth] Gustav - MAJOR Cuts Gulf Oil, Gas Output; Refining Curtailed (Update1)

[Daniel Stafford]

Gustav Cuts Gulf Oil, Gas Output; Refining Curtailed (Update1)

By Jim Polson

Aug. 30 (Bloomberg) -- Crude-oil and natural-gas shipments from the Gulf 
of Mexico plummeted, and Valero Energy Corp. 
<http://www.bloomberg.com/apps/quote?ticker=VLO%3AUS> and Royal Dutch 
Shell Plc <http://www.bloomberg.com/apps/quote?ticker=RDSA%3ALN> cut 
refinery operations as Hurricane Gustav strengthened to a Category 4 
storm on a course to strike Louisiana in two days.

BP Plc, Exxon Mobil Corp. and Shell, Europe's largest oil company, led 
producers shutting wells and whisking staff ashore. About 77 percent of 
Gulf oil production and 37 percent of natural-gas output was shut, the 
U.S. Minerals Management Service 
<http://www.mms.gov/ooc/press/2008/press0830.htm> said in a statement 
today. The Louisiana Oil Port, the nation's largest crude-oil terminal, 
closed this morning.

Full story:

http://www.bloomberg.com/apps/news?pid=20601087&sid=axZFeavVaqLA&refer=home

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/*This could skyrocket gasoline and heating costs - probably $2-3.00 per 
gallon if it lasts too long.
*/

/*The entire Gulf Coast region still reeling from Katrina after three 
years is looking at getting hammered by a far bigger and badder monster, 
Gustav.
*/

/*Katrina hit New Orleans and much of Mississippi and Louisiana as a 
wide-spread category 3 hurricane. Gustav is looking to hit as a category 
5 monster. It's time for us to start praying.
*/

/*Dan*/

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