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:
Pretty much any time you see the word “truth” in a website name, or that of a magazine or newspaper you can count on conspiracy theory balderdash or over the top religious nonsense.
Michael Goode
yet, the price creeps to $2/gal despite the sujpply, indicative of shenanigans
And yet they still raise gas prices at the pump.
And yet gas prices remain around 2 dollars a gallon. Time for price regulation of the oil industry!!
I saw the same tankers “parked” off the coast off Aruba last year.
QUIT IMPORTING IT. WE HAVE PLENTY RIGHT HERE AT HOME.
Full tankers are a tad bit lower in the water.
When gas was $0.38 per gallon, there was no concern. Today gas stands at $2.00 per gallon and it is a catastrophe. I don’t think so. There are just no $100 billion quarter profits posted.
Could be an issue with one of the refineries or chemical plants on the channel. One time at Rohm and Haas we has a tank polymerize on a new start up and Shell next door had to evacuate as well as R&H and 27 ships had to set off shore for several days until it played out.