Developments could make for a real interesting energy market next week. Due to a leak discovered on Saturday the trans-Alaska oil pipeline was essentially shut down as company and governmental officials assess the extent of the leak and potential remedial measures to both the environment and the facilities.
The pipeline is apparently 95% shut down, and has a capacity of roughly 625,000 barrels per day – around 9% of U.S. crude oil production. The leak occurred inside a cement encased pipeline or transfer station and was below ground according to early reports, so it was not evident if the leak was due to corrosion or some other equipment or structural failure."
