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:
Marco Romero lives in Las Vegas Nevada so of course low oil prices would be good for him living in the biggest welfare state in United States of America I bet he is an Obama lover too.
so does this mean, gas will drop back down to 25 cents a gallon,,LOL
Thank you Sonya Gonzales Isom for the info!
This is not unusual and is actually a common occurrance in the industry. As energy demands grew over the past several decades (the current glut notwithstanding), it was cheaper to store crude in supertankers than it was to build additional onshore tanks, piping infrastructure and deal with regulatory licensing, inspections and maintenance. Plus, in places like the Houston Ship Channel and the Mississippi River, a fully-laden supertanker has too much draft to safely navigate the waterway. The solution is to use smaller tankers to offload (a process called “lightering”) crude from the huge vessels and bring them inshore to the existing terminals and storage tanks of refineries on an as-needed basis to keep processes running smoothly and predictably. They stay at anchorage until their cargo is depleted. Once the supertankers were emptied, they’d go back to the source – imported oil or to distant platforms not served by a sea-to-shore pipeline – and refill. By not continuously adding tank capacity at refineries, management is able to keep processes operationg and not subject to downtime for turnover and testing when new facilities are brought online.
I want 4 dollar a gallon gas. Id rather pay more and have a job.
Its getting close to the end they are empty there inventory for taxes.
Not true I work on a harbor pilot boat 35 miles has nothing to do with it you can park anywhere within 2 miles out the area where the ship’s anchor is called the Anchorage usually in Galveston there from 2 miles too 14 miles out sometimes there is up to 30 ships in this area
Let me spit some real knowledge to y’all off the coast of Galveston and off the coast of Port Aransas Texas anywhere from 2 miles out to 15 miles out the ship’s anchor up where they anchor is called the Anchorage there are usually anywhere from 15 to 30 ships in this area anchored there is absolutely nothing different going on right now then usual I’ve worked on a boat called the pilot boat where the captain of the boat pulled up beside the ship and a captain gets off he is called a harbour pilot he goes up on a Jacob’s Ladder alongside the ship while it is moving the Harbor pilot directs the captain of this ship on how to properly bring the ship into port there are different currents where different channels meet inshore Harbor pilot brings every single ship that comes into port in this is for safety measures that way the ship does not run aground whenever I see something abnormal off the Texas coast I will report the truth to you because this is just internet b******* I’m in Port Aransas almost all the time I will keep a watchful eye for anything different however here is some real news I have noticed many military cargo ships in the port of Corpus Christi these ships are loaded down with military equipment there are railroad cars 4 miles that have a military vehicles and gear and equipment and they are loading them onto the ships we are about to go to war I will post pictures
Oil just hit a low of $40/barrel, less we pay at pump the better.
WTF, I don’t see anything. Art.