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:
I know where the the Middle East can store their oil !!!
Hint: The sun doesn’t shine there!!
Well, I feel we need to stop IMMEDIATELY on buying oil in mid east, for 1 oil line runs from Saudi Arabia thru Syria and off the Syrian coast!!! Isis has seized control of oil export and were buying the$#%&!@*out of it!!! That needs to stop our tax dollars are funding terrorism!!!
Trump said he would stop buying oil from the Saudis cause of this!!!
We have Texas and alaska we don’t need that$#%&!@*over there!!!
Besides when Obama took the saudi oil he stole it from russia, and Russia based 45% of her economy off that oil!!!
I looked out from the seawall last night and counted…….six, so ha!
Don’t know about else where, but gas prices have been going up here in Greenville sc
Remember Jade Helm?!?!
If there is such a glut of oil, how come the gas prices keep rising here in New York?
Yeah the military exercise that’s been going on for decades.
Michael Crowley
Those tankers are empty. . Sitting high in the water.
I want to see prices under a dollar again. Screw big oil they made their profits for years.