Saturday, August 21, 2010

Should oil producing countries stop keeping oil on ships to drive prices up?

From the Indian Ocean to the South Atlantic to the Gulf of Mexico, giant supertankers brimming with oil are heading nowhere.





Prices are going down because people are conserving and not driving their cars as much.





Traders are trying to profit by buying cheap oil now to store and sell at a higher price later. Oil storage has become so popular that onshore tank capacity is becoming scarce.Should oil producing countries stop keeping oil on ships to drive prices up?
We need to hire some pirates to bring these ships to port.Should oil producing countries stop keeping oil on ships to drive prices up?
You mean like Morgan-Stanley?


You can thank investment banks for the enormous spike in oil prices.
They should do whatever they want with their property


If we don't like it we should develop our own oil reserves
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