Posted on 04/27/2020 6:30:50 PM PDT by Mariner
Dozens of oil tankers anchor off the Californian coast near Los Angeles and Long Beach as the reduced demand for oil takes hold. The tankers are acting as storage tanks for oil as demand has reduced throughout the coronavirus pandemic.
(Excerpt) Read more at sacbee.com ...
Nobody wants it and it's costing somebody big money to just leave it there.
It’ll be gobbled up in a couple weeks when the economy gets going at full tilt, but that isn’t likely to begin in California.
http://www.freerepublic.com/focus/search?m=all;o=time;q=quick;s=tankers
In a few weeks? Try months or years
The oil glut was happening BEFORE cornyvirus
Cornyvirus just made it 100x worse
Paid $1.11 yesterday. It’s $1.29 today.
Gavin says 5 more weeks. The People won’t wait.
Still $3.05 for cash her in Cali. And no one uses cash.
“Still $3.05 for cash her in Cali. And no one uses cash”
Big State, I haven’t paid over $2.79 in a month.
There could be shortages due to the transportation problems, to go with the usual average wholesale cost of the station’s tank contents.
$2.25 is probably in taxes
In 2019, the US sucked down over 20 million bbl a day. A few big tankers won't take long.
More then just a few
Way more hanging out in that ocean, you just don’t see them
I am sure you can see them down in the gulf or off the shores of Jersey as well.
It’ll be gobbled up in a couple weeks when the economy gets going at full tilt, but that isn’t likely to begin in California.
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Governor Gavin Newsom should order some of the tankers to empty their contents into the ocean to foul the beaches. That will get the recalcitrant California peasants off the beaches and back into their homes in obedience to their state’s Governor’s dictates. Who do they think they are, anyhow, to disobey the Governor?
So where was that? Is it a secret?
“A few big tankers won’t take long.”
As long as we quit producing oil it won’t take long at all./s
My last fillup was at $2.76/gal. For premium, using my credit card. In San Jose.
Consider that oil production must be shutting down. Who would keep producing oil they can sell. Plus there must be some some operations that going belly up.
With that in mind it pretty fair to say that when the economy opens up then there is going to be very little production occurring. So stored oil is going to be used quickly and more than likely we will quickly end up with an oil shortage. Because there is going to be a delay in restarting production, and an actual long term reduction in production capability.
How many potential Exxon Valdez tragedies are parked right offshore now?
As big as these oil tankers are you can see how small they are compared to the ocean. More oil has leaked from the natural seeps near Santa Barbara.
You’re not a deplorable. Deplorables are tough and resilient. They’re not cry babies. Wow
Or they might be in an image on a website a thousand years from now posted by somebody :-)
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