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 witnessed this during the “oil crisis” in the 70’s. People were waiting in line to buy gas but 9 tankers were anchored outside of Charleston harbor with no place to unload. The estimate then was that the entire southeast could run off of the storage tank in Charleston for six weeks. They were all full, yet you could not buy gas.
Does anyone still believe that there was not collusion among the oil companies to get Carter out of office?
An alternative theory is that of “buy low, sell high”. Buying the oil at low prices now and counting on OPEC to keep pumping in order to drive out US producers. Once that happens, watch the prices. Ever notice how the prices at the pump do not drop on the same day that there is a dramatic drop in crude, however, one little hiccup in the middle east or a natural disaster raises the prices at the pump .25 cents or more THAT DAY? No, I’m not buying the magic.
Okay folks this is a set up to kill our economy in the 70’s,80’s&90’s we ran out or were running out of oil go back and look now India and China are using oil most of Africa and South America are as well with such a grate demand we should be out of it by now but no we have such a grate surplus that oil will hit $20 a bbls in the U. S. this year. War on the U. S. A. Is not coming it’s here economic war. They will cut our supply line by killing our economy then sit back wait for full on civil unrest and when we are beat down& starving from our own battles they will atack us from the outside. Mark my words this is a strategy our enemies have been working on for years this is just the 1st they have been able to work togather long enough and we have had weak enough leadership to allow it to happen.
Turn the well off.’
Reminds me of the 1974 oil crisis. All loaded and no place to empty them.. Mobile oil tied up their tankers to north sea oil platforms during that time. But, the price of gas went up with all of that oil in reserve.
those ships are empty…. look how high they sit in the water
As high as they are sitting in the water, notice the bowlines, they appear to be pretty empty.
The ships in the pics are empty look at the water line
Earl Dorman I was about to make the same observation. They are definitely light.
LET IT catastrophically go down…”They” didn’t give a rip when it catastrophically went to 4 & 5 dollars a gallon at the pump!