Out from the pipe came a bubblin' crude...

Oil, that is. Black Gold. Alaska Tea.

If America floats on a sea of oil, I think the ship of state has sprung a major leak.

Oil Prices Surge as BP Shuts Down Oil Field

Worldwide crude oil prices surged today after BP oil announced that it was shutting down its Prudhoe Bay oil field in Alaska following discovery of a small leak and corrosion in a pipeline.

The North Slope field produces 400,000 barrels per day, about 8 percent of U.S. crude oil output.

The news sent September crude futures contracts--which represent prices anticipated by traders--up more than a dollar, beyond $76.00 per barrel.

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