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:
Good grief…
Hahaha, funniest thing I’ve read all day
Looks like sitting targets for Obama’s next homemade crisis to cover up his next signing of an executive order!
I do believe that we should not import oil from any country when it results in the drastic economic downturn and the mass layoffs of American oil workers. It’s not our responsibility to support the Middle East
Marco Romero low oil prices aren’t good for oilfield workers. Thousands are laid off right now along the gulf coast
That’s an overly dramatic headline
All ships must park around 35 miles offshore and wait for the inland pilots to arrive. In the meantime the boat crew are always being checked for their history and many times the boats are boarded and inspected, especially if they’re bringing in any goods. This is typical since 911.
Hence the above statement.
Don’t know much but the ships in the picture are EMPTY. See, when a ship is full of oil it rides really low in the water, I know that’s scary science, but these are really riding high. So they be coming in to load up all the domestic production that used to be illegal to export but now is ok to do so. Internet morons, get it right.
I’ve always thought that if we use theirs first, when theirs run out, we will still have ours.