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:
this same thing happend back in the 70s when they claimed there was a shortage of oil and rashend odd and even days to jack up prices. when the hole time i would see convoes of army tankers every day going up and down i45 they were takeing the oil and dumping it in the desert because they had no place to store it.
diesel is a bi product of gas you can take straight oil and mix with diesel the motor will still run try doing that with gas watch what happens. i lived in the houston area in the 70s and seen what was going on off shore frist hand when the army would run tankers every day up and down 45 load the oil and take it to the deserts and dump it due to no place to storeit they claimed oil shorteg but it was just to raise prices and get people to use more in a panice state
Back in the seventies they emptied their tanks into filling stations. Even old ones that had been closed for a long time. Just shows that the oil companies are will do ANYTHING for a bigger profit. If you drive down route 1 about 4 miles from Gordon Junction you can smell natural gas. Have smelled it for YEARS. Seems like there is NOTHING that big companies will do for the all mighty dollar.
This is almost hysterical. The ships are ridding high because they captains have pumped out the ballast because the gulf of Mexico safe anchorage area near Galveston is extremely shallow. The really large super tankers are to large to come into Galveston. The supertankers offload onto smaller tankers
Buahahaha ! I was I crew pat capt . All the ships sit in the anchorage waiting to be off loaded ! Also did ship lightering there too ! Big ships that can’t make port has to load smaller ships to send in . Don’t believe this$#%&!@*! It’s friggin hilarious !
Sorry guys, those ships in that pic above are empty. Look at the waterline. If they were loaded the red would not be visible.
The last few times I’ve been out sailing I saw all these ships parked everywhere you never seen this before
This article is so poorly written. Oil in container ships are you really that stupid? And the over supply of oil is not a result of low prices it’s the opposite the low price of oil is a result of the surplus of oil the exact opposite of what you wrote in this very horribly written article. WTF????
Good
Why does this article keep popping up on my feed?