Grain either gets harvested.. or it rots in the field.  So Grain Storage is important.  Crude Oil on the other hand.. if you run out of places to go with it.. you can just turn the pump off... and "lift it" later.

Brent which is more reflective of World prices is..?  What $7 or $8 higher than WTI..  We are blessed that we have bookoo Crude Storage which does allow logistics to be sorted out.  As we continue to build pipelines.. and/or.. USE the ones we've built.. such as SEAWAY which we REVERSED FROM Cushing TO the Gulf.. which is only running half full right now...  We'll be able to ship Crude more efficiently.

So the thing is at what price does it trade?

Retail Gasoline prices are pushing $2.50 here.. about $.60.. $.65 higher than the bottom earlier this year..  Refiners can sell it for more shipping it offshore..

I just have a hard time buying into the Mantra that Crude Oil is going to be puking because of lack of storage... afterall like I said.. you can turn the pump off and lift it later when the market is better. 

Cushing which is in PADD 2.. is NOT the highest storage.. although it is the largest terminal.  (I thunk??)  However, there is WAY MORE ROOM (like double) in PADD 3 along the gulf coast which was only like half full a few weeks ago.. so IF Cushing actually does start to fill.. they can always send it on to the gulf..  Again SEAWAY is only running at 50% of capacity as Crude flows into Storage to capture the Cantango..