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

To: elmatador who wrote (6678)	11/29/2007 6:18:02 AM
From: Wharf Rat	Respond to of 24233

UPDATE 3-Fire shuts main Canada-US crude oil pipeline Thu Nov 29, 2007 5:00 AM GMT "The area under fire now is 100 feet (30.5 metres) by 100 feet, it is anticipated to burn for up to three days," Jeanine Brand, County Attorney and Public Information Officer for Clearwater County, told Reuters by telephone. Oil prices rose more than $1 a barrel in Thursday trade on fears that the disruption would tighten supplies, rebounding from a nearly $4 fall a day ago. U.S. crude oil futures <CLc1> were $1.17 higher at $91.79 a barrel by 0445 GMT. Canada is the biggest supplier of foreign crude to the United States, accounting for almost one-fifth of its over 10 million bpd of imports, government data show. [EIA/IMPORT] Nearly all of that is delivered via the Enbridge system. According to the Enbridge Web site, Lines 1, 2, 3 and 4 have a capacity to carry slightly over 1.7 million bpd of crude oil, natural gas liquids and oil products. "My initial impression is that (this) will put a halt to the slide in oil prices and put us back on the march towards $100 a barrel," ANZ senior commodities analyst Mark Pervan said. "The timing is pretty bad. We are coming to the strongest demand period for crude with the approach of the northern winter." PAST LEAKS FIXED QUICKLY Previous disruptions caused by leaks on the Enbridge system earlier this year have been patched up quickly enough to avoid any significant impact on customer deliveries. Continued... 1 \| 2 \| 3 investing.reuters.co.uk