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:
I have known for years that oil would be shipped to one company and be sold in route several times driving up cost before ever hitting a port. Often the original buyer would own the same shipment several times during the selling process but I have never heard of oil arriving unsold with no buyers upon arrival at a Port. I have also heard of storing oil offshore in tankers creating a shortage and also driving up cost before bringing it into port for unloading. More money is made by oil speculators than oil companies while the shipment is being moved across the oceans but never have I ever heard of prices being so low even speculators are afraid to invest due to prices dropping after they purchase it. Just goes to prove the prices are controlled by Money and it is not always the oil companies that are ripping the people off but the speculators.
I’m sorry too. These ships are empty! Need to make shure you have photos to back up your story. If you were correct, the last time there was an oil glut was when private investors were storing fuil in tankers off shore to create a shortage……gas prices went sky high till the stiry broke and many of the perpitrators were arrested for price manipulation.
We had an increase of 9 cents a gallon today. Must be because the little man with the bowl haircut in North Korea farted and thought he set off a hydrogen bomb.
I hope oil goes to ten dollars a barrel. The oil companies have had us over a barrel for forty years and it’s their turn now.its also making our politicians to even more to find out what the oil industries rear end tastes like even more than normal. Notice how they passed a law to allow our oil to be shipped out while we buy oil from people that many times want to kill us and ship it in?
Wow, just wow. You think the government is going to continue to let fuel prices fall? There have already been rumblings to keep prices up by adding a tax to it. And you can bet your ass, that once the government adds a tax, it will not go away once prices go back up. And I don’t suppose you’ve considered what will happen to the economy when everyone that is employed in the oil industry is out of a job, have you? Entire states will have their economy go to hell in a hand basket, because those employees spend money elsewhere. For instance, I walked in on my hairstylist the other day, sitting on the floor of her shop crying because everyone in our town is out of work, which means she has no customers. She’s wondering how she is going to pay her mortgage and she is not alone.
WE’RE EXPORTING DOWN HERE IN THE coastal bend
Yeah, this is the first time in years that the US has EXPORTED oil, so they had to reverse all the flow for a bit and getting the gears back to normal is taking time…
It doesn’t take much to realize these ship are empty…..Look at the water line. Poor reporting. More lies to sell ads.
There have always been ships here. All waiting to get into port to be loaded. No some conspiracy to kill the oil industry
http://www.zerohedge.com/news/2015-11-12/something-very-strange-taking-place-coast-galveston
they are mostly oil carriers — the last i had heard was there were over 50 super tankers or some where around that anchord out side in the galveston anchorage — as there was no more room to unload this oil. go to the very end of the road in galveston and look at all the ships that are in anchor right now. you will be amazed at that. the plants have no room to store this new oil — and they have slowed down getting the crackers going full tilt. this is just for the huston, galveston anchorage. other places like new orleans and others as well are going through the same problem as well. in some places the price for gas is in the 1.40 a gallon range. the stock up for air craft fuel is having the same problem along with the diestl fuel for the big ships coming in for fuel as well . the military oilers and fulers are having the same problems as well