Oil Tankers Anchored at Sea Storing Crude

kmiklas

kmiklas

...everything is full!

I'll give ya five bucks for one of these ships.


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160,000,000 barrels of oil being stored on tankers at sea right now.

Those tankers are charging hundreds of thousands a day to keep oil stored in their tankers. Once the economy starts to open again these dollars they are charging are going to drop like a rock.
 
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Gas prices haven't moved near me. You would think with the glut of oil out there that gas prices would have fallen a solid 25-50% in the last few weeks but nope. Still paying what I have been paying for over a month and half now give or take 15-20 cents!!!!

Amazing how prices at the pump are just sitting idle while oil has plummet to 30 plus year lows!!!!
 
S2007S said:
Gas prices haven't moved near me. You would think with the glut of oil out there that gas prices would have fallen a solid 25-50% in the last few weeks but nope. Still paying what I have been paying for over a month and half now give or take 15-20 cents!!!!

Amazing how prices at the pump are just sitting idle while oil has plummet to 30 plus year lows!!!!
More...

Can you spell G-O-U-G-I-N-G?
 
Overnight said:
Can you spell G-O-U-G-I-N-G?
More...


Indeed I can. I can just imagine how profit margin must have spiked at most gas stations....there is one station near charging prices as if its still 2016 with prices at $3.65!!!!
Cheapest I have seen it was approximately $2.29-2.40!! I paid $2.50 the other day
 
S2007S said:
Gas prices haven't moved near me. You would think with the glut of oil out there that gas prices would have fallen a solid 25-50% in the last few weeks but nope. Still paying what I have been paying for over a month and half now give or take 15-20 cents!!!!

Amazing how prices at the pump are just sitting idle while oil has plummet to 30 plus year lows!!!!
More...
There is a wholesale-retail disconnect going on in multiple places - auto(especially used), housing (starts vs pricing), gas, interest rates etc. Almost like retail actors are in denial. Rarely do retail judge better than wholesale.
 
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