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Re: A Venezuelan Tanker Is Stranded Off The Louisiana Coast  

By: lkorrow in POPE IV | Recommend this post (2)
Fri, 18 Aug 17 12:44 PM | 68 view(s)
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Msg. 31559 of 47202
(This msg. is a reply to 31554 by monkeytrots)

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Good point, ferme la grand bouche unless reading every word! Makes sense. I'm over extending myself trying to keep up with posts. I think I have to go back into drop off mode for a bit....




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The above is a reply to the following message:
Re: A Venezuelan Tanker Is Stranded Off The Louisiana Coast
By: monkeytrots
in POPE IV
Fri, 18 Aug 17 10:56 AM
Msg. 31554 of 47202

Linda, read the entire article. It explains why. I didn't understand either. Basically, they have to make sure that they are getting paid before they unload the oil. Letters of credit FROM THE BUYERS are required- and the letters are issued TO the sellers. Kinda like a certified check made out to a specific person. The banks wont issue the letters to the current sellers due to the sanctions.


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