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:
Yep. A repeat of the nineteen seventies. I lived in Galveston at the time and you could see many, many tankers sitting off the coast. The refineries and chemical plants storage tanks were full and they were refusing shipments. And then we got the artificial “shortage” of oil which drove prices skyward at the time all the while the trucking company I worked for was hauling overland in tanker trucks the surplus refined oil to Mexico for seventeen cents per gallon. The sheep have been blinded.
I’ve had a home in Galveston for 14 years. Let me tell you folks. These are empty ships. There’s always ships anchored out there.
Probably just a ‘stock photo’ they used for the article. I thought the same thing when I saw it.
Those ships are all empty and riding high.
Interesting…..
Seems like a good time to top off the US oil reserve to capacity.
Al Jimenez there you go nephew…the real reason you having been catching fish is all the ships in the area!
With out oil you don’t eat.
FB indicates there are two replirs on here but they do not appear. What are you people afraid of that you have to hide your comments?
You are right on target Diane, but people won’t budge .