http://www.zerohedge.com/news/2016-02-10/bps-stunning-warning-every-oil-storage-tank-will-be-full-few-months
3 replies (most recent on top)
Most media only reports on Cushing storage since Cushing is the big hub which sends crude south to the major refineries in the Houston area.
Just heard that midwest storage is full, and midwest gas prices have dropped to levels below that of the east coast to try and push gasoline sales.
what has happened to the Strategic Petroleum Reserve? I worked on it in the 1990s, and it has the ability to store lots more crude than tanks.. I think it would hold 750 million barrels back then. It probably has been expanded since 1995.
that would mean even lower prices very soon