Posted on 04/26/2020 12:37:31 PM PDT by know.your.why
PDJT has already made the purchases to do that.
Another post noted that some of the loitering tankers are riding high (have had their oil offloaded). They may be awaiting voyage/dispatch orders from their owners. If there is a glut in the market at the moment, it makes no sense economically to send the tanker back to the oil fields for another load until supply and demand comes back into balance.
During the 2008 Recession, a similar fleet of idled container ships developed in Singapore waters due to consumer goods orders drying up. As the recession dragged on, a number of those ships were scrapped to save their owners money.
That’s unlikely to happen now. There are fewer oil tankers and they are much more difficult and expensive to build. In addition, this situation is temporary and the economy will pick up once we have a proven effective set of measures for detecting and treating COVID-19.
So cal. LA area. Its not 30 miles from Huntington Beach to Long Beach.
WTF are you talking about?
I thought for a minute that they were talking about New York, man would that be a great place to live if the New Yorkers would leave.
I noticed some were MT, half full and full. The tankers will be used as storage. Rail tank cars and even filling pipelines will be storage. Shore side tanks and underground storage will fill. A week ago I heard they will all be full in a month.
This will cause production to be stopped. If the Economy opens up again...Then all this stored oil will be used up. Then there will be an oil shortage.
Keep in mind they are full of oil that has not been sold. Simply waiting for a buyer. This has been a disaster.
Nope. Full tankers show little, if any red. Lots of red on those empty tankers.
What is MT?
“Hasn’t California ALREADY outlawed the use of fossil fuels”?
What’s running those millions of cars in California right now?
Calif. might want to outlaw fossil fuels but it won’t happen.
No, no they are all completely full.
eMpTy
Thanks.
I thought they were empty because plenty of red is showing. Full tankers show little, if any, red.
Nope. Full tankers show little, if any red. Lots of red on those empty tankers.
27.4 miles from my house in HB to Long Beach, Queen Mary area
39.2 to San Pedro - port area
30 was a guesstimate
sink them
No, it’s the US breaking its own economy over a virus and the US being emulated by other countries causing a drop in demand not just for gas to drive, but a massive drop in demand for petroleum to make plastic and other petroleum derivatives.
The only good that may come of it is Iran has nowhere to sell their products either, because of this... neither does Russia- and, increased border controls all over the world are playing havoc with Hezbollah and North Korea’s drug smuggling business.
The reason oil is so low is that storage is maxed out and there’s no place to put it. It’s time to go back to work.
Trump had a point when he said that they would pay the US to take the oil and fill up the strategic reserves. Too bad the Congress has no guts for that.
The bloodbath has not even started. An economic tsunami is coming and it’s going to be very nasty. Many people think that we can go though all the crap we just went though and then suddenly just get back on track quickly. More QE, funny money giveaways by the government, destroyed businesses, rampant unemployment claims etc. etc. On top of this the Cuomo types with their Cloward-Piven plans burn their states in to the ground.
I’ve never seen anything so bad in my life. But, as things always go, those prepared will get rich off the coming tsunami. Bargains galore for those with cash.
Call me the bringer of doom and gloom but the writing is on the wall.
Where did they come from? The Panama Canal?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.