Matt Simmons: What’s Going On With Oil? (video)

…Inventories at the storage hub at Cushing, Oklahoma — the delivery point for U.S. crude futures — have surged a whopping 139 percent taking the tanks to near capacity.

Analysts say that once the hub’s tanks fill to the limit — which at current rates could happen any time — the scramble by suppliers to unload excess barrels could knock already depressed U.S. crude benchmark prices down further.

And it