Cushing, OK Storage Tank Farm

I got my numbers from an article over on oilprice.com. The article may be taking into account how much is already been used?

 

I have heard they are buying old sea going tankers and putting oil on them too. Wall street assumes oil will be back up in a year and they make 20% in a year?????

 

All of those things are limited..and expensive. Production cuts or demand increases are the only two things that will bring price increases. Production is very capable of meeting demand for the foreseeable future. The leveling off has begun. When prices do recover, there will be plenty of idled rigs and capped wells to bring production numbers back up and keep prices in check for a good long time. I think we will see oil prices in the $60-$80/barrel range for several years.

 

eia.gov says cushing was 25% full at the end of september. next report for the end of dec, due 3/25/2015

 

This is an interesting read...with some numbers to back it up.

http://www.energytrendsinsider.com/2015/03/11/is-the-u-s-running-out-of-crude-oil-storage/

Edit: After reading some of the comments on his article, not sure if he can back up his numbers or not..lol. He still makes some good points... contradicting the main stream media.