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:
Same thing happened in the 1970s with ships loaded with fertilizer …I know… I was in the business then…they were waiting for the prices to go up…The ships should be ours….going out to sea for export.!
Hmmm what’s up ?
Build the pipe line ,the materials are sitting there,buffet railroads make enough money the way it is
Better not have the oil sitting out there too long. When summer gets her hurricanes tend to develop. Just saying…
Don’t let the gas propaganda full you. The oil companies are purposely dropping prices in an attempt to once again kill the electric car. Watch “Who killed the electric car” either on YouTube or Netflix.
I think they may want that and kill off solar and wind too but I think their greed went ot long and now the box is open . I think cheap oil is too late to kill the alternatives now ,
They are ships from overseas that we have bought oil from….the problem is we have no where to off load it….we are up to our necks in oil.. Ii live down here and see and hear it all the time…..
I farted. Oh no i face book
Those ships are empty. Look at the waterline.
Too much supply…. slower demand 😉
Yes and I think that is what there trying to do now too