Alaska Stops Prudhoe Bay Oil

Leaks were found in the Alaska pipeline.

From ADN.com:

BP Exploration Alaska, Inc. began shutting down the Prudhoe Bay oil field Sunday after discovering unexpectedly severe corrosion and a small spill from a transit pipeline.

Prudhoe Bay represents about half of Alaska's oil production and about 8 percent of U.S. production, according to the U.S. Energy Information Administration.

Company officials said it would take days to shut down the oil field. Once completed, it's expected to reduce oil field production by 400,000 barrels a day.

Just what's needed, more upward pressure on the price of oil. Sheesh!