US Pipeline Explosions Shuts Down 1.7million BPD

LONDON - Just when tightening oil supplies across the world looked ready to experience some relief, with OPEC ministers to meet next week potentially to raise production, a pipeline explosion in the United States has cut critical supplies from Canada and sparked a jump in prices on Thursday.

Canadian company Enbridge (nyse: ENB - news - people ) has shut down four pipelines carrying crude oil to the United States after an explosion on Wednesday afternoon claimed the lives of two workers. The pipeline blast took place three miles from a terminal in Clearbrook, Minnesota, and the shutdown has effectively corked 1.7 million barrels' worth of oil per day.
The supply shock sparked a boost in oil futures. West Texas Intermediate for January delivery gained $3.63, or 4.0%, to $94.25 per barrel, while Brent crude for January delivery advanced $2.06, or 2.3%, to $91.87 per barrel, on the ICE futures exchange.

"This pipeline blast has caused a little bit of consternation simply because it is such an important pipeline," said Lawrence Poole, energy analyst with Global Insight. He said the affected lines contributed 20% of America's import requirement, adding: "In the short term, there is no doubt that it is going to add some pressure to oil futures."

Above story by Lionel Laurent,for more, go here.

The Human Shock Absorber

This is...um...quite funny, even though I suppose it shouldn't be->

Oil now $81-a-barrel

Earlier this morning I was contemplating this question: through which medium (or channel) does news travel the fastest. I've been inclined to think it's radio. After all, the speed of sound can be trasmitted and re-transmitted with a minimum of infrastructure and bandwidth (and total energy costs). Sure the speed of light is quick, but it also takes time to set up images + voiceovers, and in terms of the internet, it takes a while to set up a search and then to read. Thus radio comes up trumps. Makes sense then to add top news stories in an audio stream on especially NEWSY sites, doesn't it?

It's probably a close race though, but it's staggering that this news, which is of vital importance to the planet, is 2 hours old. Earlier this morning we all stood around the big screen TV in breathless anticipation of a McCann revelation. Now that's news!

Meanwhile from the Belfast Telegraph (of all places - not CNN):

Oil prices have hit a new high in New York overnight due to concerns that rising demand during the winter could squeeze supplies. The price has hit $81-a-barrel and experts are predicting that it could rise even further to $85 or $90 before the end of the year. The surge comes despite OPEC's promise to pump an extra 500,000 barrels per day from November.

NVDL: Notice the converging catastrophes...expensive food, expensive fuel, credit crunch (that no one is taking seriously), shit kicking weather, fires floods and all the rest. We need to take a breather and get back to Nature, and what we're really supposed to be doing with our time and our lives.