Tuesday, March 3, 2015

Shale Energy Business Briefing’s daily newsletter

The off-the-table drop in crude oil prices, coupled with producers in North America pretty much keeping production steady—at least until price hedges run out mid-year—begs a very important question: With demand remaining somewhat lackluster, what are we, as a nation, going to do with all this crude? One answer is found surrounding a proverbial sleepy little town in Oklahoma, known as the “Pipeline Crossroads of the World.” Cushing, OK, is home to the nation’s largest oil storage facility, a massive complex of tanks and pipes capable of holding more than 80 million barrels of crude. The town also is the price point for domestic benchmark West Texas Intermediate (WTI) crude. Can Cushing Handle the Glut? Can Cushing handle the continuing inflow of crude, which has been pushing roughly 2.2 million barrels per day (MMBPD)? Three experts recently addressed the question/problem during a webinar sponsored by Genscape and monitored by Shale Energy Business Briefing (SEBB). The trio,

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