This Is Where Record US Oil Production Is Actually Going

US oil production has surged to an all-time record of more than 13 million barrels produced per day. But where's all that crude actually going? And how is it being handled and stored? On this episode, we speak with Steven Barsamian, chief operating officer at the Tank Tiger, a clearing house for terminal storage, and co-host of the Tank Talk podcast, about the business of moving and storing oil and its related products. We talk about what storage capacity looks like right now, how it's changed over time, plus last year's diesel shortage in the Northeast. He also describes exactly how crude oil and refined products move from point A to point B, talks about the crud you find at the bottom of storage tanks, and explains why you should definitely not keep oil in the bathtub (or on your desk) to benefit from contango. This transcript has been lightly edited for clarity.