Gustav spares U.S. oil industry

(01:53) Report

Sep. 2 - Energy operations in the U.S. Gulf of Mexico and along its coast avoided the worst case scenario after a weakened Gustav made landfall.

Oil and natural gas output continued to be shut in on Tuesday, but oil infrastructure appeared to have held up, sending oil prices down below $110 a barrel.

Conway Gittens reports from New York. Featured Speakers:

  • Anthony Grisanti, trader, GRZ Energy
  • Dirk Kempthrone, U.S. Interior Secretary

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