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:
Great great depression on the horizon, oil abundance means lack of demand,false economy. Student loans 1.3 trillion, 218 billion not being paid back, bigger crisis than the housing crisis of 08 which we never really recovered from,just printed f**e money. However we could nominate TRUMP,a man that can’t even run his own campaign correctly and blames others,that should work well!!!
Is that why gas has gone up so much? Doesn’t make sense.
Wow….
This happened in Texas and California in the 1970s during the height of the “gas crisis” too. Ronald Reagan was Governor of California then and was on a talk show and was advising people to be patient, calm etc.. Someone called in and asked “if there’s a gas shortage, where are there 50 (or something) tankers sitting at anchor waiting to offload their crude oil?”
Reagan said he would investigate that and make an announcement when he found out. The gas crisis ended that same week. Interesting isn’t it?
Niki Walden
Ronnie Merritt
I have been saying this for months and months
Waiting on the tide
I agree with Andy.They sometimes create a false shortage in storage tanks to justify raising prices.
Typical of late. “Truth and Action” using neither.
This surplus oil being stored in tankers to drive the price of gasoline up Its not the first time this has been done.