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:
Bruce Rifleman…agreed! I am a trucker and like paying 2 bucks a gallon instead of 3 or 4 bucks
Why is the cost of gas going up then if their is surplus oil tankers just sitting there ? It don t make sense other then the greedy oil companies want to line their pockets as well as our polititions pockets.
I was in Galveston 2 weeks ago and counted about 25 ships sitting in the Gulf.
NEW WORLD ORDER,FLOOD THAN CRASH
And gas prices went back up, huh go figure!
Oil infrastructure will slow in response to excess reserves and dropping prices but this combined with epa regulations on coal and the democratic agendas impact on its production and economic civilian impact is catastrophic here in wv and I have first hand dealt with the slow down in the Marcellus and Utica infrastructure in part by a global economic slow down but mostly by the over regulation and governmental overstep and agencies regulation lets face it when more people work for governmental agencies that ha’ve to explain an existence for their job than work for the private sector that can’t charge someone else for their job economies can not prosper !
I remember back in 1973 ships carrying oil where lined up off the coast of Florida but no gas at the pumps!
So much “hogwash”! Half of the ships are empty waiting to get in to load product!!!
Meahwhile the price of gas is going up again fast
Now here’s somebody with some real knowledge Jd Honeycutt you might want to take some of his the advice he’s been doing this c**p before you were even thought of