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by akg_67
3894 days ago
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If you think Cushing storage of 3 days is massive, you will be shocked with Strategic Petroleum Reserve maintained by US govt, that covers a large swath underground below Texas and Louisiana states, and only holds about 30 days of consumption. https://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve_%2... Actually, Cushing storage is not that much. Unlike SPR, it is mostly short term storage in between transit. Cushing is a transfer point between different pipelines that connect at Cushing which also later became a delivery point for oil and gas futures traded in futures market. |
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US imports are about 1/4 of consumption (http://www.eia.gov/tools/faqs/faq.cfm?id=32&t=6), so total reserves (including commercial storage) should be around 25 days.
As to Cushing, from both the article and what you say I would be more concerned about losing those pipes than of losing the oil stored there.