Something Strange Is Taking Place In The Middle Of The Atlantic Ocean
Early last month, we noted that something very strange was happening off the coast of Galveston, Texas.
As FT reported, "the amount of oil [now] at sea is at least double the levels of earlier this year and is equivalent to more than a day of global oil supply.” In short: the global deflationary crude supply glut is beginning to manifest itself in a flotilla of stationary supertankers, as millions of barrels of oil are simply stuck in the ocean as VLCCs wait to unload.
Ultimately, this led to nearly 40 crude tankers with a combined cargo capacity of 28.4 million barrels waiting to anchor near Galveston. Here’s what the logjam looked like:
more,,,,,,,,,,,,,,,,,,,,,,,http://www.zerohedge.com/news/2015-12-16/something-strange-taking-place-middle-atlantic-ocean
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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