BP Shut down Pipeline?!?!?

BP Shut down Pipeline?!?!?

www.iht.com

LONDON: Oil company BP PLC says it has shut down a pipeline that runs through Georgia as a precautionary measure, but says that is unaware of any Russian bombing of pipelines in the region.

BP says it closed the 90,000-barrel-a-day oil pipeline running from Baku on the Caspian Sea to Supsa on Georgia\'s Black Sea coast earlier Tuesday.

Another pipeline operated by the London-based oil company in the former Soviet Republic, the larger Baku-Tbilisi-Ceyhan pipeline, is already out of action after a fire last week on its Turkish stretch.

BP spokesman Robert Wine says that the Baku-Supsa line had been closed because it runs through the center of Georgia where there is greater risk of conflict.

However, he adds that BP has no reports of damage to pipelines in Georgia, despite reports from some officials there that Russian forces had attacked the lines.

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I am new to this site, but you guys are great at analyzing things. I just saw on CNN that BP just shut down their pipelines from the Caspian Sea to the Black Sea as a \"Precaution\". Do we get our oil from that pipeline? How can this affect the US?? I\'m thinking that this is going to really affect the stocks today if this pipeline has anything to do with the U.S... If it does, our stocks could bottom out on this one... What do you guys think??? I love this site! All of you have some awesome views!

www.iht.com
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Thanks for posting this. Welcome to the community.

Some have mentioned how interesting it was that the shutdown occurred a mere day before the fighting began. Another noteworthy point is that the "Turkish" portion of the pipeline damaged by fire was claimed by some to have been an act of terrorism by the PKK.

Ultimately, the pipeline is so important to so many different countries, it would have been foolish to target it unless war on a much wider scale was the objective. It is however kind of sad, if you stop to consider that the people who were killed were not important enough to stay anyone's hand in the attack.

But the oil was.