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:
aint gonna be good for the oil companys based in the us. the plan is to drive them out of business. they should not have been so greedy in the last 10 years. but wait till its all arab=middle east companys! we will really pay!
they will sit there till demand goes up that is for sure.
What we obviously need is more refineries.
Eric Peterson funny
I work flying off shore in the gulf of Mexico, I have not seen any increase in the number of ships stacked up, off Galveston you will allways see beteen 80 and 100 ships waiting to get into port.
http://www.marinetraffic.com/en/ais/home/centerx:-94/centery:29/zoom:8
compare all the ships by Galveston with NYC!
I’ve have BEEN@Galveston. spring break2015 Fog so thick that we could Not Port. Sat ….silently watching over 6 hours of ship after ship, cargo after cargo, Fog…slowly and weaving in between each Cargo holder. Freakish still water. Hoping another ship didn’t hit us as we got word we could come to Port and scared no one would Ram us. It was like a scary movie you see on TV. And NO ONE knows what goes on in these waters!!
Greed………………………..
BS, I work in the gulf, this us not unusual. Ship traffic is steady not just oil tankers.