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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: upanddown who wrote (117719)	2/13/2009 4:08:13 AM
From: Michelangelo7	3 Recommendations Read Replies (1) of 206183

The question is: If WTI is among the highest grades, and is commanding the lowest prices, why does the storage at Cushing keep going up? Why isn't this high quality crude going elsewhere to get the higher prices? It's like water flowing uphill. I'm beginning to think that the problem is that the increasing production from Canada (oil sands, Bakken, liquids) has nowhere else to go. Wasn't there a plan to reverse a LOOP-Cushing pipeline to handle the extra oil? And another plan for a pipe to the west coast? Where do those plans stand today? This could remain a problem until there are more pipes flowing away from the middle of the continent? AIMHO.

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