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:
http://www.joc.com/maritime-news/cheap-fuel-cuts-costs-only-rising-demand-can-lift-profitability_20160126.html?utm_source=twitter&utm_medium=content&utm_campaign=article
http://www.joc.com/maritime-news/cheap-fuel-cuts-costs-only-rising-demand-can-lift-profitability_20160126.html?utm_source=twitter&utm_medium=content&utm_campaign=article
Oil is a huge scam. There will never be any shortage of it. It comes from bacteria and reproduces itself. It is not “Fossil” fuel. Many people profit from the price manipulation.
Another click bait sight!
Same thing happening off the coast of Port Aransas, TX
so where was all this oil when we were paying 2 and 3 dollars a gallon for gas and the Oil companies were making huge profits?
Same thing happened in the late 70’s.I was living in Baytown TX married to a guy that’s company was building storage tankers to put all that oil in. Meanwhile there wee miles of lines at the pumps …BS is still alive and well in America !
I do know that the supposed gas shortage we had in the 70’s was bull. Several farmers were asked to have added storage tanks.
I thought these ships were empty, they look pretty high out of the water.
THEN UP LOAD THE VISUAL FACTS! LET US SEE WHAT YOU SEE!