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 also remember the seventies and all the tankers off the coast. It was a real awakening to economics, long lines on alternate days and even Dow Chemical was advocating ride sharing. The powers to be can manipulate commerce but that is how it has always been done.
Look closely, Jesus face appears in the clouds.
and gas prices are going up in CA again
remember them telling us we are running out of oil
This is actually normal! These ships cycle in and out of Houston but can’t all be docked at the same time. It’s not unusual to see 200 ships off shore. Been that way for 30+ years. How I know this- Texas native, lived in Houston, grand dad was a radio officer on several of these things.
well its bull anyway because gass here just went up 50 cents a gallon
Andy beat me to it. its the 70’s all over again. $ 200.o$ 4.00 dollar gas around the corner. This is after the US started exporting rather than importing, rag heads got nervous no more gold plated Mec’s
This is nothing new. The Government does this c**p all the time. Beware of who you vote for for in the Primary’s.
same old$#%&!@*differnt day their fucking us again
Why are the stockpiling crude oil. Deliver it and make it what we need. It just goes to show you. The price is a Ponzi scheme