North Dakota’s Bakken Oil Finally Hits the East Coast

Bloomberg: One of the consequences of the U.S. oil boom is that all that crude gushing out of the Midwest has outpaced our ability to move it around. The result is a series of bottlenecks like the one in Cushing, Okla., where there are now more than 50 million barrels of oil stuck in tanks the size of 747s. That’s about a three-day supply of oil for the U.S., just sitting there. This glut has led to big disparities in gasoline prices across the U.S. Right now, drivers are paying about $3.75 for a gallon......

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