The Financial Post reports in its Saturday edition crude oil storage tanks in Hardisty, Alta., are slowly filling up, and have been since oil prices started tumbling in October. The Post's Geoffrey Morgan writes now producers are looking for ways to physically hedge their barrels against the price collapse. Now, an opportunity, called contango, to take advantage of expected higher prices of oil in the future and oil delivered at today's bargain-basement price, is driving traders around the world to move huge quantities of crude into storage. There is now so much oil storage at Hardisty, however, that even with growing supply from the oil sands, the tanks are not expected to fill up completely, even if oil prices stay persistently low. "Canada is not the ideal place to do a storage play to take advantage of contango," said Brian Busch at Genscape Inc. A lack of pipeline export capacity contributes to a "basis risk," he said, because producers need to lock in a contract with a pipeliner to get that oil to market. Adding more pipelines, like TransCanada's Keystone XL, would help lower that basis risk, but traders would still need to arbitrage the spread between Western Canadian Select and West Texas Intermediate.