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:
Well in Wisconsin the gas prices are going up
True Dave???
Thanks Mark pandanell!! This stuff is ridiculous. Iam in and out of the Houston channel constantly and from the jettys south and north for miles there are always ships
Definitely not!! Big ships waiting to load or waiting for lightering
The boats pictured are empty. Look at all the red on their hulls. That’s called the waterline, which shows which parts of the boat should not be showing when it’s full. It helps you estimate how much of the boat is underwater, in this case, not a lot.
Then why is fuel prices on the rise again
Another oil crisis in the Gulf of Mexico if one starts to leak!
It’s cheaper for them to store the oil in tankers offshore then on land. Article about it a few months ago online somewhere
And lower fuel prices is actually a bad thing…….
Good let the price fall.