Oil Companies to Shut Down Pipelines to Prepare for Gustav

By: Associated Press
By: Associated Press

Companies are preparing to shut off their pipelines on the ocean floor and possibly evacuate thousands of offshore workers as Tropical torm Gustav takes aim at the Gulf of Mexico.

Gas prices fell again Tuesday, but the threat from Gustav raised the possibility that gas could soon head upward.

Oil prices climbed for a third day as Tropical Storm Gustav spun toward the Gulf on a possible collision course with offshore oil and gas platforms.

It's still too soon to know where Gustav is headed. Some models show it taking a path toward Louisiana and other Gulf states that were hit by Hurricanes Katrina and Rita three years ago. Those two storms sent fuel prices soaring.

There are more than 4,000 oil and gas installations in the Gulf. In 2005, Hurricanes Katrina and Rita destroyed 109 oil platforms and five drilling rigs.

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