Mountainous piles of steel pipe are being staged across four states in anticipation of building the biggest-capacity pipeline proposed to date to move crude from North Dakota's prolific oil patch.
But stockpiling the pipe is a gamble for the Dallas-based Energy Transfer Partners' Dakota Access Pipeline, a $3.8 billion, 1,130-mile project that still needs approval from regulators in North Dakota, South Dakota, Iowa and Illinois.
My hunch: North Dakota will approve; South Dakota and Illinois will delay decision; and Iowa will block. Remember, Bernie Sanders is leading Hillary Clinton in Iowa. That's all I need to know.
Organizers learned a lot from the Keystone. And there's no pressing need.
Reuters (Jack Kemp) is reporting:
Living in America, Neil Diamond
Yesterday I was surprised to see the EIA headline that California was #3 among the US states for refining capacity. #3? Then I went to the link: #3 accounts for about 10% of total US refining. In other words, if California refining went away, it would have no -- okay, minimal -- impact on US refining. It would be painful for Californians, but for the US, it's all about Texas and Louisiana when it comes to refining.
The tea leaves suggest that refining capacity will not change much for California going forward.
I have coffee in the morning at the Daily Addiction on Main Street in Williston for the wi-fi. The music is alternative music, reggae, etc. At least that's what it is now and was yesterday at this time.
They have a single flat-screen television which is placed in a pretty good spot for viewing; of course, only video, no sound. And what do they run, apparently all day long? C-Span. I kid you not. Speeches in front of empty chambers.
It really doesn't matter. Ninety percent of business is take-out. I'm the only one sitting here now. At the height of the boom, it was hard to find an empty chair. At the height of the boom, lines stretched from the counter to the front door; now one or two in line at most.
But C-Span?
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Storage In America
Reuters (Jack Kemp) is reporting:
U.S. commercial crude stocks are still close to their highest levels in over 80 years, but operational requirements prevent refineries filling on-site storage facilities to their maximum capacity.
An increasing proportion of U.S. crude oil stocks is held in off-site tank farms, some owned or leased by refiners themselves, but many owned or leased by marketers and traders.
According to the Energy Information Administration (EIA), which surveys storage capacity every six months, total crude in storage at the end of March was 475 million barrels, and the country had capacity to store up to 660 million.
Only 182 million barrels of storage capacity, around 28 percent, was on site at oil refineries. The rest was off site at tank farms or in pipelines, railroad tank cars, barges and oilfield tanks.
Most of the crude at refineries and tank farms is stored in giant cylindrical tanks with a roof that floats directly on the surface of the oil.
Storage tanks need to be kept filled to a minimum of around 20 percent to support the roof and operate the pipes and other equipment.
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Putting Things Into Perspective
Yesterday I was surprised to see the EIA headline that California was #3 among the US states for refining capacity. #3? Then I went to the link: #3 accounts for about 10% of total US refining. In other words, if California refining went away, it would have no -- okay, minimal -- impact on US refining. It would be painful for Californians, but for the US, it's all about Texas and Louisiana when it comes to refining.
The tea leaves suggest that refining capacity will not change much for California going forward.
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One Last Thought Before I Leave The Bakken
I have coffee in the morning at the Daily Addiction on Main Street in Williston for the wi-fi. The music is alternative music, reggae, etc. At least that's what it is now and was yesterday at this time.
They have a single flat-screen television which is placed in a pretty good spot for viewing; of course, only video, no sound. And what do they run, apparently all day long? C-Span. I kid you not. Speeches in front of empty chambers.
It really doesn't matter. Ninety percent of business is take-out. I'm the only one sitting here now. At the height of the boom, it was hard to find an empty chair. At the height of the boom, lines stretched from the counter to the front door; now one or two in line at most.
But C-Span?
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