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:
Not saying that you don’t know what you’re talking about JD but I would take any advice from Kerry McCaughey
All three tankers in the picture are empty. If they were full most of the red bottom paint would not be visible. Seems to contradict what the article is saying.
Prices up .60/ gallon in the last month in Wisconsin.
This has been going on for over a year now. We saw it on the cruise we went on out of Galveston. It is also happening here in Corpus Christi as well.
Chad Davis
Fred Murphy epa regulations have resulted in Diesel being refined more and that’s why it’s more expensive.
actually thes ships are empty notice the waterline on the hulls . Secondly this is a common occurrence I’ve seen it many times. Like airplanes they are in order to be loaded and unloaded.
Yet gas prices are almost back to $2 a gallon. It’s called fleecing of American working middle class.
Debbie Riddle Davis
Thanks Joel…I’m telling you something is going on…and it isn’t gonna be pretty….