BP shutdown could be big

When you have an economy teetering on the edge, it doesn't take that much to cause real problems. The shutdown of BP’s Alaska oil field could be especially tough for California drivers because most of the crude that’s used to make gasoline here comes from Alaska. The irony is that gasoline prices had been holding steady for the past week or two – despite this being the peak of the summer vacation season. In fact, the government’s weekly gas price survey showed that in the Los Angeles area, the average price of a gallon of self-serve regular was $3.23, while Chicago, not used to high gas prices, registered just a shade higher. (L.A. prices are still 61 cents than they were a year ago.) Up until the BP announcement, the expectation was that prices would start to fall after Labor Day, but that seems unlikely, what with oil prices at $77 a barrel.


4:47 PM Monday, August 7 2006 • Link
Email or share:
© 2003-2008   •  About LA Observed  •  Contact the editor
LA Biz Observed
5:34 PM Tue | The documentary “Roman Polanski: Wanted and Desired” is being cited in the director's request to dismiss the molestation case against him.
4:12 PM Tue | A mythology has taken hold about the financial disaster: That only a select group of economists and money managers saw it coming.
Native Intelligence
Adrienne Crew | Hennessey + Ingalls Art and Architecture bookstore opens a branch in Hollywood this week.
TJ Sullivan | Bush sought to "make the pie higher," but President-elect Barack Obama says it's time "to make sure we're growing the pie …"
Judy Graeme | Legendary 19th-century photographer Carleton Watkins, who is the subject of an exhibition at the Getty, traveled hard miles around California with a simple motto: stand "where the view looks best."
TJ Sullivan | For every dollar I put into my first car, I got back a lifelong education in auto repair, and this disease.
Sara Catania | Erin Kaplan responds
Bill Boyarsky
Here’s a way city hall can strong arm the Dodgers into paying at least part of the cost of providing public transportation to the stadium during baseball season.
Jenny Burman
An ambiguous smile, and redemption.
Here in Malibu
There's sunlight in them thar hills
Run On
With Thanksgiving upon us, what better time to talk about food?
Sponsors
Jewish Journal logo
California Wellness Foundation
Playa Vista ad
Premium Blogads

 
Books, Blogs & Events