More tankers waiting off the coast of Texas.
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 ...
open up all the world economies to pre-covid levels. end the farce.
16 Dec 2019: Real Clear Energy: Madrid Climate Conference Ends in Failure
By Rupert Darwall
Speaing two years before the Paris climate conference, Yvo de Boer, former executive secretary of the UN climate convention, was more candid. “The only way that a 2015 agreement can achieve a 2-degree goal is to shut down the whole global economy,” he said...
https://www.realclearenergy.org/articles/2019/12/16/madrid_climate_conference_ends_in_failure_110499.html
source conveniently behind a Bloomberg paywall:
4 Nov 2013: Bloomberg: Kyoto Veterans Say Global Warming Goal Slipping Away
by Alex Morales
https://www.bloomberg.com/news/articles/2013-11-04/kyoto-veterans-say-global-warming-goal-slipping-away
5 Nov 2013: Press Reader: Montreal Gazette: Climate-change veterans see goals slipping away
‘Only way a 2015 agreement can achieve a two-degree goal is to shut down the whole global economy’
by Alex Morales (Bloomberg)
“There is nothing that can be agreed in 2015 that would be consistent with the two degrees,” said Yvo de Boer, who was UNFCCC executive secretary in 2009, when attempts to reach a deal at a summit in Copenhagen crumbled with a rift between industrialized and developing nations.
“The only way that a 2015 agreement can achieve a two-degree goal is to shut down the whole global economy.”...
“The economic realities, the energy security realities, the poverty eradication realities, the access to energy realities are such that the main thing is to get as many countries as possible to make as bold a next step as they can without feeling threatened,” de Boer, now a special adviser on climate change to the accounting firm KPMG LLP, said by phone from Seoul. “By definition a 2015 outcome, even a brilliant one, must be inadequate, and it will lead to severe impacts.”...
https://www.pressreader.com/canada/montreal-gazette/20131105/281788511817291
Those are called “facts”
Fact
Oil Production glut was forming BEFORE cornyvirus
Fact
Cornyvirus made the glut situation even worse
Fact
It will take months if not years (since it may take years to get the world economy back n its feet over time) to balance it out.
Sorry, I don’t deal in wishful thinking
Oil is going to be tough for at least a few months, if not a year or so. Its not going to be a few weeks, sorry.
True, production was cut and slowed down
But it hasn’t halted completely
We still have a giant glut right now
People are joking that they are getting 3 weeks to the gallon
If you promise not to tell any of the libs in Cali, it was 1.40 in Colorado today
More tankers waiting off the coast of Texas.
And off Singapore, mostly waiting to move to China.
Global oil storage capacity is roughly 4.3 billion barrels, and nearly 90% of it is already full, according to the consultancy Rystad Energy. The firm now sees storage reaching "tank tops" in as few as three weeks.
That means there's a massive amount of oil with nowhere to go.
Most of it ends up in large floating-roof oil tanks, such as those that surround the city of Cushing, Oklahoma, where the US benchmark, West Texas intermediate (WTI), is delivered. Other oil is sitting in caverns underground.
More still is stuck inside supertankers — like those seen off the coast of Long Beach on Thursday last week.
the U.S. ought to make a real low offer and replenish the oil reserves.
Tons of people and illegals use cash see it all the time
I can only imagine what it’s like to be a crewman on one of those ships riding at anchor for a month. I think I’d go overboard and swim for it.
$2.19 at Costco and 2.39 +.45 fee at Arco here in Huntington Beach, of majors will jam you just for their name.
$1.15 at Costco here in Cleveland, and .75 per gallon away from the highways.
I am waiting for the time to use my supermarket points here gonna get the full 30 gallons.
Meanwhile, not a peep from that autofellatory vermin over Harvard trying to snag 9 million from the small business relief bill.
Mnuchin as well is useless scum because they haven't done jack all to make sure the small business went to small businesses.
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