Posted on 04/25/2020 5:23:21 AM PDT by C19fan
More than 25 oil tankers are currently floating off the Southern California coastline as the demand for oil plummets. The U.S. Coast Guard filmed video that shows 27 tankers anchored in waters just off the coast by the Port of Los Angeles and Long Beach as of Thursday afternoon. Stay-at-home orders across the country have led to a dramatic reduction in the demand for crude oil and now the tankers have no place to deliver the product and instead have become floating storage tanks.
(Excerpt) Read more at dailymail.co.uk ...
I suspect the Houston, TX ship anchorage is full with tankers waiting for a buyer.
Lots of 0 knots readings on that map. Neat site.
If you pass the truck my way I’ll get $6+ a gallon for the Gas we’ll split the profit and sell the truck. :)
Oh wow, thanks for the website! Lots of ships sitting off of Houston also.
This is just one side effect of quarantining the healthy and collapsing the economy. How unexpected.
Here in my neck of the woods(Michigan)...the ARTHUR M.ANDERSON is abeam Port Sanilac heading northbound in Lake Huron.
If that name sounds familiar, it is the ship that was trailing, and last to hear from, the Edmund Fitzgerald.
I’m somewhat confused since I don’t see a defining legend. What do the colors and shapes represent?
One of my favorite YouTube *live* webcams...Port Huron. I love to watch the Lakers go by...
https://www.youtube.com/watch?v=AAYiFaPV8G4
zoom in or out...clock on any of the shapes and details will pop up in a new window...
Nice. I take it that’s the Blue Water Bridge? Crossed it a few times going to Point Edward Casino...back in the day, before it required a passport. Nice place to sit back and chill.
“We have them by the cahones, squeeze Mr. President!!!”
In a way, he already has. China’s petroleum industry, for instanse, is crashing amidst the price war going on between Russia and OPEC and our cut back of demand, hence the anchored ships.
Earlier this month, PetroChina, a holding company which serves as a stock market listing entity for the China National Petroleum Corporation, launched an initial public offering (IPO) on the New York and Hong Kong stock exchanges. The IPO is valued at nearly $3 billion, scaled back drastically in size due to a lack of worth of sales.
And OPEC is discussing investments by a number of oil companies to include Chevron, Conoco, Exxon/Mobil, Marathon Oil, Phillips Petroleum, and Texaco. You can’t eat oil. Having a higher ownership in their oil output can give the US better control of the world’s supply.
So there are things in the works behind the scenes supplied by the media. This is the type of actions that can get us in control and slow the price gouging problem with oil.
rwood
Immediately stop the import of foreign oil—buy AMERICAN!
To illustrate, there are no tankers (or anybody elese) anchored in Lynhaven Roads in the southern Chesapeake Bays. And there are dozens of anchor spots on both sides of the bridge.
Good site.
Many of those tankers appear to be empty. You can tell by how they sit in the water and by the location of the painted waterlines, bow bulbs and plimsoll lines.
I guess there’s no point in loading an empty tanker if there’s no market for what they’re hauling but they could be used for additional storage capacity.
Anyway, there’s more to the story than just “hordes of loaded tankers waiting to be unloaded.”
“Mr. President please tariff oil imports NOW!!!”
Why? It isn’t going to change anything as we are slowly weaning off imported oil to begin with and especially from the middle east where this thread was investigating.
From 2005 to 2015, the United States’ reliance on petroleum imports fell from 60% to 25% of total consumption, while exports increased by over 300%. Since 2015, imports have remained fairly steady at approximately 10 million barrels per day, but exports have continued to increase, from 4.7 million barrels per day in 2015 to 7.6 million barrels per day in early-mid-2018 and have increased since then. The Energy Information Administration projects that U.S. import reliance for oil will continue to fall over the coming decade and our exports will thrive.
We are currently no longer locked on the oil for food program set up by Clinton in 1995 of which we purchased, roughly, 3% of our oil from the middle east. It ended as of 2006. But oil is a commodity, it is a tool. It is used to pacify the middle eastern countries so they won’t start wars and keep the peace. If they can’t eat, they will go next door looking for food. And we’re back into a civil war like Syria, Kosovo, and maybe larger. The contribution of the agricultural sector to the overall economy ranges from about 3.2 percent in Saudi Arabia of their GDP. But their staple crops are basically wheat and barley for edibles. A comparison is with the US whose share of the GDP is 5.4% with agriculture, food, and related industries contributing over $2 trillion even in our inflated economy.
Best to continue to feed them with oil purchases than send troops into the poison atmospheres and RPG’s like Afghanistan and Syria that we have diplomatic commitments to. And if we pull out, we will have another Vietnam result with the addition of weapons in Turkey and other places.
It isn’t that simple.
rwood
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