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:
how about the good ole days of 25cents per gallon!!
I am there right now and I can see c**p, it was foggy earlier this a.m.
Why do people feel the need to always spread misinformation?
Why would it cost so much to get a photo anyone can take from the seawall?
This is very normal in the Houston port area, nothing new here. The world has so much oil because of American innovation in drilling and the massive amounts of US oil being produced. We no longer buy most of our oil from the middle east, thats now a total myth. The other reason for low prices is the failing economies in China and many developing nations as well as the failure of socialism in Europe which has killed the economies in many countries like England, Spain, Greece, etc.
OPEC is become less and less relevant over the years, especially in North America thanks to American oil innovation.
Tracy it is ok… Those are not cruise ships…
Gas prices in California are rising again, these bastards are money thirsty suckers
Maybe everyone should take a road trip while prices are down to use up all that surplus.
Iran confiscated our ships. Maybe we should go out there and see why they are in America waters, then put there deck hands on there knees. Why not ???? Oh I forgot, Obama and Kerry are still in office.