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Politics : Sioux Nation

DJT 10.35

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3:59 PM EST

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To: American Spirit who wrote (66823)	5/8/2006 2:44:28 PM
From: twmoore	Read Replies (2) of 361150

Here is part of the reason for oil being high priced.The oil companies are storing as much oil as possible to keep the price high and are planning on building more storage capacity. Enbridge ramps up oil storage capacity DAVE EBNER CALGARY -- Enbridge Inc. is looking to spend $1.5-billion expanding its oil storage capacity and said yesterday it is moving ahead with one part of the plan, a $250-million storage facility. The Calgary-based oil pipeline company said the storage terminal, in Hardisty, Alta., will be ready by September, 2008, with a capacity of five million barrels. Oil storage is used by shippers on Enbridge pipelines to set aside crude when prices are lower and sell it when prices are higher. Enbridge said it already has 15 million barrels of oil stored under existing long-term contracts, a figure that could be tripled as it adds space at various locations in North America.

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