Oil field shutdown will increase prices at the pump

Gas pumps
Gas pumps.
MPR Photo/Melanie Sommer

A leaky old pipe is disrupting oil supply from Alaska. BP, the world's second largest oil company, has closed down the Prudhoe Bay oil fields. They found a leak over the weekend in part of the pipeline and turned off the taps. The shut-down will halt eight percent of the nation's crude oil production.

Jim Ulland is a former Minnesota commerce commissioner and state legislator. He's now president of Ulland Investment Advisors, specializing in oil and gas stocks. He talked to Minnesota Public Radio's Tom Crann about where Minnesota gets its gas, and what impact the shutdown will have at the pump.

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