Storage comments, panel discussion on “GCC Countries in the New Oil World”…

January 29, 2016 by Jim Colburn Leave a Comment

Last night I attended a panel discussion entitled “GCC Countries in the New Oil World” at the Center on Global Energy Policy (Columbia/SIPA) (http://energypolicy.columbia.edu/events-calendar/gcc-countries-new-oil-world-0). You can see it here: http://energypolicy.columbia.edu/watch

In the Q&A, Adam Sieminski, Administrator, US Energy Information Administration was asked about storage space in the US. He said that oil storage is about 70% full, that Cushing now has pipelines that move crude to the Gulf, that we can now export oil and that storage on tankers is available. So, he did not see a problem with storage availability going forward. Sieminski also referred to December 3rd’s Today in Energy for more on storage: http://www.eia.gov/todayinenergy/detail.cfm?id=23992 One question will be answered soon: will production fall and/or demand rise enough before we run out of storage…

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