Here is the story. The ports storages facilities are full. There are no trucks picking up fuel. This is because all the gas stations are topped off.
I even saw some reports were gas trucks that could not drop off their fuel had to pay $8,000 just to store it.
It is not only happening with the fuel. The corn farmers that made the Ethanol are having to get rid of their harvest because no trucks are coming.
It is not just corn. Farmers that made food for restaurants have no trucks coming because there is no demand from the restaurants. So they are having to get rid of their food.
There are hundreds of ships off of Singapore. Same situation.
Which is what causes a depression. You can have money in your pocket but if nobody is producing anything you have no place to spend it.
Each ship earns the owner upwards of $250,000 a day, where previously the owner got a barely breakeven $25,000
better than a pumpernickel imo.
I hope the mods don’t let you correct the title!
(And I’m not even a rye drinker.)
Racist headline
I wonder how long it will take them to realize what they have in their holds is worth negative money, meaning its worth less than sea water. Will they do the logical thing? Might be a good idea the Coasties keep a very good eye on those ships. Let them take it home to dump it in the ocean.
Why are we importin oil? I thought we were the leading exporter the last few years?
This is a great time to kill the ethanol program. Bad for consumers, bad for the environment. The Midwest farmers know all this but the program made whores out of them. And, naturally congress, both houses, are afraid to do anything. Imagine that! Sarc/. Lol..
When a body sees a tanker acoming through the rye...
They gonna be drunk !
Is Hennigan's made from rye?
Rye is on the Long Island Sound. Used to be a Playland there.
The Coast Guard can keep a Rye on me anytime they want.
Tariff oil imports now!!!
Hmmmm. As the video shows and the first still pic show, several of these ships are riding pretty high in the water indicating they are either empty or nearly so. But, yes, there appear to be numerous tankers anchored off the coast.
Roh-roh.
My Ryes Adored You!
Florence Easton sings “Comin’ Thro’ the Rye” https://youtu.be/byAvP_pIXO0
Bill Haley & His Comets, “Rockin’ Through The Rye” https://youtu.be/bKfxLs3Y7DQ
Roh-roh.