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:
the lowest i have seen is 183 in cleburn texas
It is a $1.69 in Katy, Tx
So, having been very recently working with a major harbour tug company in the port of Houston and Texas City/Galveston and seeing AIS (GPS for ship traffic) on a daily basis, I can tell you that this article is very deceiving.
The article says there are about 50 ships waiting in the outside anchorage at just about any given time. True. And the majority are Tankers. Also true.
What the article fails to mention is that the majority of those “tankers” anchored and waiting to come into the Port of Houston, the majority of those tankers are chemical tankers carrying commodities such as Benzene, vinyl monomers, and so on. They are not crude tankers that are backed up waiting for days and days on end to come into the big refiners or crude oil storage facilities (Shell, Exxon, Oiltanking) Those ships are often “Board on Arrival” meaning the terminals are awaiting their arrival and come in shortly after arriving to the anchorage area. The only reason most of these crude ships wait offshore for any given time is due to the fact they are large and are day light restricted and must wait for morning until they can take a pilot and proceed to berth.
WTHECK Cory McMellon?
If you have an iPhone you can enlarge your font
In 1979, I was working out of Galveston, and flew to jobs offshore. There were hundreds of ships at anchor that were loaded with oil. And we had to line up at gas stations the night before just to get 5$ worth of gas. The market is constantly being manipulated to maintain a elevated price level. The market is flooded with oil. There is a oil war going on!
You got it! As a employee of Standard Oil California I saw gas being shipped out of state to be stored while cars waited in line for the 5 gallons allowed. Government restrictions. The whole thing was a ploy.
Oil war? Yes, the price is being deliberately kept low. Today’s NYMEX price on West Texas Intermediate is $37.55. A year and a half ago it was $103.00. The Saudis are deliberately keeping the price low to force domestic producers out of business because it costs about $40 per barrel to bring up that oil.
Maybe the oil price has fallen because we are taking it instead of buying it!
Those ships are probably from the Middle East and owned by some corporation in America. I’m just saying maybe!
Oh nice of you to invalid the “truth” of something that has been going on since forever. Nice map of specific plotting of ships full of oil in or bay. With terrorist on the loose!
Gas is 179 here this morning. I guess the only solution to this problem is to buy pickup trucks. Yee haw.
Jeez!!! Look at the picture of those tankers closely. They’re EMPTY!!!YuP, EMPTY! If they were full of oil, they’d be sitting deeper in the water with the red part of the hull completely covered by water.
Just one thing wrong with that picture. As high in the water as those tankers are riding, they are obviously empty.