Add $5 to $10 to crude oil prices for the BP oil spill?

A recent Deutsche Bank analysis raised its long term price of crude oil by $5 to $10 a barrel, citing tighter global regulation (the US ban on deepwater drilling due to the BP oil spill in the Gulf) pushing up oil exploration and development costs. “There’s no doubt we’ll see increased regulation with time” said RCM Director Christopher Wheaton. The US Interior Department’s Minerals and Management Service “is already asking for more from companies, you’ll see more complexity in equipments and certification.” “Adding relief wells that aren’t already in place will be costly,” said John Kingston, Platts Global Director of News, “making some projects uneconomical and may slow the introduction of new oil.” From extra equipment, higher insurance costs, expensive technology, to mandatory third party inspections, costly delays, and shifting investments, analysts say the price tag of regulation will be stiff and not confined to just the Gulf of Mexico. The Gulf of Mexico oil spill is threatening to affect more than just crude oil prices. Investors in BP have been warned they could suffer in terms of both income and regulation if BP’s share price continues to fall and the dividend payment suspension continues beyond Q3 2010. Gulf oil spill puts upward momentum on crude oil prices Gulf oil spill maybe bigger than BP wants you to know Crude oil prices may rise on Gulf of Mexico oil spill disaster BP pasted by more setbacks over US Gulf crude oil spill Light oil prices trading up over $86 on messy Gulf oil spill Will BP go bankrupt over the Gulf of Mexico oil spill? Brent oil price trading higher, finds support near $72 Crude oil prices fall heavily, following stock markets lower Brent oil price trading lower, is double dip on it’s way? BP racks up 64,000 claims over Gulf of Mexico oil spill Oil prices trading up 2 percent on China Yuan decision Crude oil prices close trading higher for 2nd week running Crude oil prices trading steady in $77 to $80 range WTI oil trading firm amid higher US crude oil supply Gulf of Mexico oil spill may take until Christmas to cap Oil prices end week around $74 mark in uncertain market Crude oil prices fall four percent on gloomy US jobs data BP lowers a cap onto leaking Gulf of Mexico oil well BP fails to contain oil spill as latest effort gets stuck Oil prices open trading around $72 mark, US dollar gains

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Add $5 to $10 to crude oil prices for the BP oil spill?