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:
Texas has a tax that is levied on crude that is in the state at the end of the year. That is why the ships are not unloading until after the 1st. No big deal.
James Adams Those ship are empty.
If the price of oil keeps dropping how are the 3rd world countries going to support terrorism?
It’s Presidential election time – gas prices always fall then! Check it out
And everyone thinks gas being 1.75 is a good thing. It is costing lots of people and companies their jobs…
What is happening right now is killing the oil Industry and putting thousands of not more out of work…
We are exporting oil for the first time in years.
Is it going to be the end of the world if the Republican Party looses Again?
Like in 2008 what a bunch of c**p
Truth?
Pants on fire
That’s trumps fact check rattiy
Good grief folks, please talk of what you know, not yet another conspiracy theory. Look at the ships in the picture…floating high in the water (translates to empty). These particular ships are waiting to be loaded. This area off of Galveston is a staging area for Galveston harbor (limited), Texas city refineries, and the ship channel that goes all the way to Houston. Some are there waiting to load, while others are waiting to unload. I have gone fishing off of Galveston and this is normal procedure.
I am a captain on a crude oil tanker.
This story is bs