Question: 1. What do you predict has happened to oil storage prices whenever shortages of storage space have arisen? 2. Why might increases in oil storage

1. What do you predict has happened to oil storage prices whenever shortages of storage space have arisen?
2. Why might increases in oil storage prices be required to induce owners of aged storage tanks to increase the quantity of tank storage space supplied? (Hint: Owners must incur expenses to refurbish storage tanks.)

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