Energy Tomorrow Blog
John D. Siciliano
Posted April 30, 2020
Meeting short-term crude oil storage challenges has our industry looking at a number of measures to safely route and handle the surplus resulting from the demand decline tied to global efforts to slow the spread of COVID-19.
API President and CEO Mike Sommers told CNBC that the industry is thinking outside the box to find “creative solutions” to ship and store an historic amount of oil beyond its usual means.
To be sure, there also are separate infrastructure challenges in getting crude oil to where there is storage. Many pipelines in the nation’s transportation network are full up or contracted – partly reflecting the country’s infrastructure needs that pre-date COVID-19. That’s a subject for a separate post. The fact remains industry is focused on finding storage as markets rebalance between supply and demand.
Posted August 25, 2016
Posted May 26, 2015
Thinking about American energy, one underappreciated component is our national maritime system – connecting sources of oil with U.S. destinations and also exported domestic resources that help make the U.S. an energy superpower. National Maritime Day last week reminds us of the vital link this system provides in the energy supply chain.
Noteable: America’s marine highway system consists of more than 29,000 nautical miles of navigable waterways – the most extensive system in the world – infrastructure that’s vital to our economy, about 42 percent of all waterborne trade in the U.S. in 2012 was comprised of crude or petroleum products, reflecting the fact the U.S. imports about 10 million barrels of oil per day and more.