‘It’s not like milk, you can’t dump it’: As oil storage runs out in Canada, desperation sets in

Calgary Herald discusses how, as oil storage runs out in Canada, desperation sets in.

The scenario that many oil executives feared is starting to play out: Storage space is filling up and there’s nowhere to put their oil.

“It’s not like milk, you can’t dump it into the fields,” said Elias Foscolos, a Calgary-based analyst with Industrial Alliance Securities Inc. “There’s people looking at doing anything possible… somebody’s probably calling up every single independent closed service station and saying, ‘Hey is there a storage tank there? We’ll pay you.”

Comments are closed.