Something bizarre is happening off the coast of Galveston, Texas. Were you to look toward the sea in the Texas port town, you’d be subject to a oceanic traffic jam of epic proportions. Ships carrying oil have gathered along the coast in the Gulf of Mexico in such great quantities that ships approaching the port have been asked to move toward the town slowly in an attempt to ease the burden.
This phenomenon is directly tied to the huge amounts of oil stored internationally and in floating container ships across the world. As oil prices fall, stockpiles of the resource are going through the roof, and governments and companies don’t have anywhere else to store it.
This could cause the price of oil to fall catastrophically further, as supply far exceeds demand for the time being.
To see the full report on this strange occurrence, continue reading on the next page:
I don’t believe this, as the cost of gas where I live has gone up twice recently. If this article were true, the reverse would be happening.
Obama really angry price is not 8 bucks a gallon as he promaced
John Crooks DITTO THAT!
The tankers have been out there for years. More now but with all the refineries, the Houston ship channel, it’s a very busy port. Cannot remember a time when I didn’t see them while at the beach.
Strange, prices at the pump just went up 30 cents a few days ago.
I have said all along that it seems there’s a conspiracy going on to flood our oil market and drive prices down for political reasons. The oil market is being manipulated. Why? Not real sure but it appears many countries are trying to get all the American dollars they can , while they can, before our economy collapses. Make sense?
A glut of oil has tankers backed up in the gulf, waiting to unload and go to the refinery.gotta love those oil companies.
Then y is gas going back up
This$#%&!@*was on here 6 months ago
There are hundreds of tankers out at sea last I saw, just sitting there.