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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (2901)	10/28/2005 8:23:33 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 24232

Oct. 27, 2005, 7:05PM Hurricane repairs could take a year Copyright 2005 Houston Chronicle Repairing all the hurricane-damaged rigs and platforms and pipes in the Gulf of Mexico will take up to a year, and crude oil output will not return to normal "for many months," U.S. Interior Secretary Gale Norton said Thursday. "Recovery is dependent on repairs to onshore facilities, offshore and onshore pipelines transportation systems, and offshore platforms," Norton said in written testimony prepared for a Senate Energy committee hearing on damage from hurricanes Katrina and Rita. About 45 percent of oil and gas pipelines in the Gulf are operating, while 30 percent need repair, Norton said. Another 25 percent of pipelines are undamaged but cannot be used because of "downstream problems," she said. Also Thursday, oil futures rose with forecasts of cold weather in the Northeast, outweighing bearish sentiment bred just a day earlier. Light, sweet crude for December delivery rose 43 cents to settle at $61.09 a barrel on the New York Mercantile Exchange. Heating oil futures fell less than a penny to settle at $1.8539 per gallon, while gasoline futures rose less than a penny to settle at $1.5926 per gallon. Natural gas for November delivery fell 20.8 cents, or 1.5 percent, to $13.832 per million British thermal units. chron.com