Wiki says it will hold 85 million bbls but I wouldn't know how to find out how full they are. But if we are producing 1 million bbls a day more than we use then won't take long to fill it up.
Cushing, OK Storage Tank Farm
Discussion in 'Oilfield Trucking Forum' started by Chibob, Feb 26, 2015.
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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?????
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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.
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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.Last edited: Mar 25, 2015
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