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:
Our government in 1974 kept tankers at sea creating a shortage that raised prices. We now produce enough to be self sufficient.
They are doing this because they do it want to pay taxes on all the oil they have in the ships at the end of year don’t have to pay tax if it is in international waters
Get out the big V8 engines and start driving!!!
i hope the dam gas gets down to 60 cents a gallon
Yeah right! Yall will come by and stir the water up for bad data when I try to hydrraulic survey the channel and flare! I have seen no defeciant traffic. Doing the ship channel and flare at Bayport once a month for almost 2 years. It sucks, too much traffic. Daily totals could be 50 ships + and 100 barges+.
they did the same thing in the late 70s and 80s. Gas will sky rocket again just like they want.
Marinetraffic.com Might be of assistance…
I’ve been on 2 cruises in the past year out of Galveston and in 2014 as well. The back up of ships was there then as well to be expected for one of the busiest ports in the world. I saw tankers as well as cargo ships backed up for miles and miles. All waiting their turn to enter the narrow intercostal water way
the verry same thing happend back when we had the first big gas shortage. they slowed processing and created a shortage of finished product adn drove priceses at the pump up they may be doing it again
if you look close they are emty ships