SOURCE: Industrial Info Resources
SUGAR LAND, TX--(Marketwire - Aug 30, 2012) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Oil and Natural Gas prices held steady this week despite the near-total shutdown of production in the Gulf of Mexico, a far cry from seven years ago when prices soared after hurricanes Katrina and Rita shut down production in the Gulf. Today, dramatic increases in onshore production from shale formations has helped limit oil and gas price volatility during this week's severe weather in the Gulf of Mexico, according to Martin Lin, Industrial Info Resources (IIR) Energy's special adviser on markets.
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