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:
Those are loaded with Cuban refugees.
Houston port was closed for fog quite a bit last week. Had everything backed up. Read about it Friday when I was checking on oil markets
How about topping back off american strategic reserves obama used a while back for no reason at all!
It could also cause a rise and most likely will. It’s election year all sorts of stupid games will be played.
Oil/diesel gets too cheap…….goods get to cheap! Then people start to prosper. We stop buying$#%&!@*from China, employment rate goes up. New business starts to emerge HERE!This whitewashed government doesn’t really want that.This is the real reason, open your eyes people!
Why is old news reposted!
Put it in the oil-wells
Good finally rich bastards
Yes it was. The storage tanks,in Miami were full with tankers at,anchor.
They hide oil tankers on train rails too. They are just driving prices up.