BP Profits
Posted on August 7th, 2006
BP announced today that they have found corrosion in the Alaskan pipelines. 16 miles of the pipeline are going to be replaced which could keep the oil field closed for months. This is the countries largest source of domestic oil and could cause gasoline prices to go even higher.
This comes just a couple of weeks after the company posted record profits as crude prices soared.
Maybe BP should have used more of their profits for preventive maintenance rather than waiting for the pipeline to deteriorate to a point where it has to be shut down.
