But there's been some concern that the U.S. will run out of places to put it all. Some analysts speculate that could spark another dramatic crash in oil prices.
Everyone in the oil trading business needs information. One thing they want to know these days is how full are oil storage tanks in places like Cushing, Okla. To find out, ask a professional — someone with eyes on the ground, and in the sky.
Genscape, an oil intelligence service, uses planes, helicopters and satellites to track where and how much oil there is all over the world. The company "does a James Bond approach and flies over the storage field twice a week," says Hillary Stevenson, a manager at the firm.
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I don't really understand, if here in America we have so much oil in our ground that we are selling it, why do we buy Arab oil?
ReplyDeleteBecause these slimey politicians feel the need to cater to the middle eastern rat bastards who burn our flag and kill our people. We need to keep our own product and let them choke on theirs.
Deleteyes, then they'll be kissing our a$$'s to buy just a few barrels and we could set our own prices. Then things would be kept in a new perspective.
DeleteY'all know, there's an "on- off" switch that's been "off" for 50 years on these wells. Now, all of a sudden, they're "on".
ReplyDeleteYou tell me...
Quit bitching and get a wind turbine for your beanie and solar panel for your car roof. Of course, you are going to die anyway from global warning unless you pay current and former (Gore) politicians more fees.
ReplyDeleteOf course our idiot politicians will be told by the saudi muslims to slow down the pumping. So oil prices can Surge.
ReplyDeleteFunny. We're pumping more oil than we can use or store. Thank you President Obama.
ReplyDeleteWe are pumping more oil because it's being done on private land and fracking. Obama has tried to shut it down but cannot. It's in spite of Obama not because of.
ReplyDelete