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Very interesting visual presentation of the worldwide oil glut at the link
1 posted on 04/13/2016 7:47:59 AM PDT by mac_truck
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To: mac_truck

The ships are being used as storage tanks, not so much as transport vessels.


2 posted on 04/13/2016 7:51:28 AM PDT by Hostage (ARTICLE V)
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To: mac_truck

Many of the “tankers” couldn’t get insurance to sail due to age and condition. Their holdings will likely have to be transferred back to a tank terminal or to another tanker.


3 posted on 04/13/2016 7:52:04 AM PDT by Eric in the Ozarks (Baseball players, gangsters and musicians are remembered. But journalists are forgotten.)
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To: mac_truck

Interesting indeed!


4 posted on 04/13/2016 7:53:04 AM PDT by rfreedom4u (The root word of vigilante is vigilant!)
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To: mac_truck

Doing what they can to PUSH UP the price of crude and gasoline prices. This mornings’ WSJ talks of rising prices on crude due to “OUTPUT CUTS”. A total ruse...while the glut oil sits in tankers, etc.


5 posted on 04/13/2016 7:55:56 AM PDT by EagleUSA
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To: mac_truck

Back in the OPEC oil embargo of 1073 it was difficult to get gasoline.

Gas stations often had empty tanks and gas purchases were rationed in various ways. Sometimes the amount allowed was limited and most people could only purchase on odd-even days or by the odd or even number on your license plate.

Even though fuel was in short supply everywhere in the US there were photos of loaded tankers anchored offshore.

There were so many loaded tankers sitting idle that news outlets reported there were few empty tankers available.

The tankers were being used for storage offshore as they waited for prices to go up before they were cleared to unload.


6 posted on 04/13/2016 8:05:14 AM PDT by Iron Munro (Noah: 'When the animals began to pair up by specie and stand in line, I really took notice.')
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To: mac_truck

And there is a whole slew of Iranian tankers waiting to be let loose.


8 posted on 04/13/2016 8:18:44 AM PDT by glorgau
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To: mac_truck

I see many ships enroute.


10 posted on 04/13/2016 8:23:43 AM PDT by Paladin2 (Live Free or Die.)
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To: mac_truck

200MB floating around vs. a world wide daily oil and liquid fuels consumption of 96MB/day. Say crude is half the 96MB/day consumption, which generously assumes that all crude goes into refineries, that’s 4 days WW consumption.

Is the price of oil so illiquid that holding out 4 days supply crashes the price from ~$90 to ~$30?

IMHO, the demand has collapsed, i.e. the WW economy sucks, and that is why the prices of most commodities have cratered.

Our fearless leaders just don’t want to spook the serfs.


11 posted on 04/13/2016 8:39:32 AM PDT by Darteaus94025 (Can't have a Liberal without a Lie)
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To: mac_truck

I imagine there is a similar map for interstellar ships trading back and forth out in the galaxy.


16 posted on 04/13/2016 9:55:00 AM PDT by minnesota_bound
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