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Thursday, September 02, 2010

Another Platform Explosion

Most mainstream media outlets are reporting on the most recent explosion in the Gulf of Mexico and thus far, reports are that the 13 men on the rig are all accounted for, one injured.

The rig was/is owned by Mariner Energy, and was not a a producing rig at the time of the explosion.

What does this mean?  First, it means that there will be more calls for ceasing exploration and development of energy resources offshore.  Second, it means that the NYMEX has cause to raise crude oil prices once again and lastly, we can expect gasoline prices to edge slightly higher at the pumps.

Happy Labor Day weekend, folks.

We should be thankful no one was killed.