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  1. #1
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    Default Cushing, Oklahoma -- Oil Hub

    Despite the high oil prices there is a massive glut of oil in Cushing, Oklahoma, the designated delivery point for Nymex crude oil futures, with CNBC's Scott Cohn, and Brian Johnson, Enbridge Energy, Cushing Region Dir. & GM - Airtime: 28 February 2011



    ...photos taken in Cushing today:

    Flickriver - Cushing, Oklahoma


    I spoke with a Deeprock Energy (Tulsa-based) employee and he was very excited about the new joint venture between Deeprock and Kinder Morgan. Deeprock has four tanks that hold 250,000 barrels each and are building three more of the same size.

    Kinder Morgan Announces Crude Oil Storage Acquisition and Joint Venture
    Last edited by cameron_405; 03-06-2011 at 01:05 AM. Reason: (updated URL)

  2. #2
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    Default Re: Cushing, Oklahoma -- Oil Hub

    Quote Originally Posted by cameron_405 View Post
    Despite the high oil prices there is a massive glut of oil in Cushing, Oklahoma, the designated delivery point for Nymex crude oil futures, with CNBC's Scott Cohn, and Brian Johnson, Enbridge Energy, Cushing Region Dir. & GM - Airtime: 28 February 2011


    ...photos taken in Cushing today:

    Flickriver - Cushing, Oklahoma


    I spoke with a Deeprock Energy (Tulsa-based) employee and he was very excited about the new joint venture between Deeprock and Kinder Morgan. Deeprock has four tanks that hold 250,000 barrels each and are building three more of the same size.

    Kinder Morgan Announces Crude Oil Storage Acquisition and Joint Venture

    I used to skydive in Cushing from 1979-84. While under canopy at 2000' those tank farms were great landmarks for finding the drop zone.

  3. #3
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    Default Re: Cushing, Oklahoma -- Oil Hub

    Quote Originally Posted by skyrick View Post
    I used to skydive in Cushing from 1979-84. While under canopy at 2000' those tank farms were great landmarks for finding the drop zone.
    ...what a rush! Did you happen to take any photos on your dives?

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    Default Re: Cushing, Oklahoma -- Oil Hub

    I here ConocoPhillips is not interested in reversing the Seaway pipeline. So we have oil flowing into Cushing from the gulf, but we need the excess oil to flow towards the gulf where all the refineries are. That's what I read in an article explaining why there is such a big difference between the WTI and Brent.

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    Default Re: Cushing, Oklahoma -- Oil Hub


  6. #6
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    Default Re: Cushing, Oklahoma -- Oil Hub

    Quote Originally Posted by cameron_405 View Post
    ...what a rush! Did you happen to take any photos on your dives?

    AMH by skyrick54, on Flickr

    This is me circa 1979, judging by the peace symbol helmet and porno moustache, over Cushing. The tank farms are out of frame to the left.



    This is someone landing a reserve by the tank farm after a malfunction.

  7. #7
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    Default Re: Cushing, Oklahoma -- Oil Hub

    Quote Originally Posted by skyrick View Post

    This is me circa 1979, judging by the peace symbol helmet and porno moustache, over Cushing...
    "...bow chicka wow wow!"

    Thanks for sharing, Rick!

  8. #8
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    Default Re: Cushing, Oklahoma -- Oil Hub

    Quote Originally Posted by jn1780 View Post
    I here ConocoPhillips is not interested in reversing the Seaway pipeline. So we have oil flowing into Cushing from the gulf, but we need the excess oil to flow towards the gulf where all the refineries are. That's what I read in an article explaining why there is such a big difference between the WTI and Brent.
    Streetwise Professor - Commodities, Derivatives, Economics, Energy

    ...the spread between Gulf Coast oil prices (such as Louisiana Light Sweet) and West Texas Intermediate (at Cushing, OK) remains wide. The March LLS-WTI spread is $14.42/bbl, and is above $10/bbl through October, 2011. The key to restoring spreads to more typical levels is breaking the logistical bottleneck south of Cushing, thereby permitting Canadian oil that is weighing on prices in the Midcontinent to flow to the Gulf. The extension of the Keystone pipeline will help do that, but not for a couple of years. Another way to ease the logjam is to reverse the Seaway Pipeline, now flowing from the Gulf to Cushing, to carry crude in the opposite direction...

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    Default Re: Cushing, Oklahoma -- Oil Hub

    FACTBOX-Energy issues facing the White House - Wednesday - 30 March 2011
    "...Keystone Oil Sands Pipeline -- On the one hand a pipeline to bring crude from Canada's oil sands could go a long way in making America's energy future more secure. Canada is one of the top U.S. allies and the proposed $7 billion Keystone XL line that would bring oil from Alberta to Texas refineries could help cut reliance on the Middle East. But crude from the oil sands takes more energy to produce, resulting in more emissions than average petroleum used in the United States. U.S. farmers have also complained the pipeline's expected route goes over a fragile aquifer. This month the State Department ordered an additional environmental review and said that it expected to make a final decision on a permit by the end of the year. TransCanada Corp , which hopes to build and operate the line, hopes the line will be in service in 2013..."

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    Default Re: Cushing, Oklahoma -- Oil Hub

    Oklahoma producers seek probe of Cushing oil supply - 31 March 2011

    "...Oklahoma oil producers want the Corporation Commission to investigate the amount of crude oil stored at the Cushing oil terminal and its impact on Oklahoma oil prices..."
    Misguided Call for Oklahoma Oil Regulator Market Intervention - 01 April 2011

    "...the Oklahoma Corporation Commission should let free market forces work rather than intervene as requested Thursday by Domestic Energy Producers Alliance and Oklahoma Independent Producers Association..."

  11. #11
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    Default Re: Cushing, Oklahoma -- Oil Hub

    Morgan Stanley Celebrates the Launch of its First Exchange Traded Note (ETN) Launched by Institutional Equities at the New York Stock Exchange - 30 March 2011

    ...Morgan Stanley Cushing ® MLP High Income Index ETN (NYSE Arca: MLPY) is the first ETN launched by Institutional Equities, and is the first in the expected launches of other ETN products by Institutional Equities that will be benchmarked to various indices. The Morgan Stanley Cushing® MLP High Income Index ETN tracks the performance of the Cushing® MLP High Income Index...

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    Default Re: Cushing, Oklahoma -- Oil Hub

    TransCanada says NY Times attack on pipeline unfair - 04 April 2011

    "...we think it's very unfortunate that the New York Times, with the credibility that publication has, did not offer a fair and balanced editorial opinion on the project unlike what other outlets in the U.S. have done recently,' said James Millar, a spokesman for the company..."

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    Default Re: Cushing, Oklahoma -- Oil Hub

    Oklahoma City Mayor Mick Cornett endorses pipeline project - 09 April 2011
    "...'we believe America can increase energy security and stimulate economic growth by securing access to stable sources of petroleum in North America,' the mayors wrote in a letter dated Wednesday. 'Reliance on unfriendly and unpredictable sources of oil drains the economic resources of our most vulnerable constituents, and diminishes the ability of local governments to provide them with essential services...'"

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    Default Re: Cushing, Oklahoma -- Oil Hub

    Commentaries:

    Point: Fighting ‘authoritarian oil oligarchs’
    http://www.okgazette.com/oklahoma/ar...%E2%80%99.html

    Counterpoint: ‘Good for Oklahoma’
    http://www.okgazette.com/oklahoma/ar...%E2%80%99.html

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    Default Re: Cushing, Oklahoma -- Oil Hub

    Crude awakening

    Environmentalists and supporters of the controversial TransCanada Keystone XL pipeline project took turns at a public forum.

    http://www.okgazette.com/oklahoma/ar...awakening.html

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    Default Re: Cushing, Oklahoma -- Oil Hub

    I hope that The Historic Hudson Oil Company Refinery is still available for public viewing from the highway.
    It's juxtapostion nearly across the road from The Pipeline Shrine was awe inspiring.

    Maybe not as inspiring as The Former Marland/Conoco Mansion/Refinery in Ponca City.
    But inspiring, nonetheless.

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