Monday, August 29, 2005

The Oil Storm

If you didn't see the FX movie "The Oil Storm" when it aired earlier in the Summer, you should watch it. Actually, in the wake of Katrina you may be able to watch it in real life in the next few days or weeks.

If you didn't see the movie (when it aired in mid-June), here it is in a nutshell: a category four hurricane destroys a vital pipeline in the Gulf of Mexico...panic sweeps of the nation...speculation drives the price of crude higher and higher...U.S. government turns to Saudi Arabia for oil...Saudi extremists commit terrorist attacks, killing 300 American oil workers...America sends troops to Saudi Arabia...still major lines at gas stations...Americans begin to turn against each other...the U.S. government decides to turn to Russia for oil...the Russians help in return for an investment in the upgrade of their pipelines...oil falls from its high of $153 a barrel down to around $77...and all is right with the world.

Now go read Crawford's List.

"This is the big one. This is unmitigated, bad news for consumers." -- Peter Beutel, oil analyst
"We are still doing the math"
-- Chevron on Katrina's impact

Mr. Crawford has many links and many comments.

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