Saturday, November 12, 2016

"Oil, at least that destined for Europe, is homeless and is not being allowed to disembark after shipment"

"Oil majors in northwest Europe have booked tankers to store 9 million barrels of oil as the international supply glut grows in size...

The companies have resorted to using tankers as storage as signs emerge that onshore storage is filling up on the land-starved continent.

Next month, Northwest Europe, which includes mega-producer Norway as well as the United Kingdom, France, Germany and others, expects to load the highest number of shipments in 4.5 years.

Somewhere in between 14 to 16 medium-sized Aframax tankers have lined the ports

...the lack of land space to store fuel is the likely cause of the tanker buildup.

...the rate to book an Aframax tanker has almost doubled from the July figure, partially due to the widespread use of ships as floating storage units.

North Sea producers have upped production...

"Journalists and politicians have become ensnared in a symbiotic web of lies that misleads the public"

"2013 Egyptian coup d'état", "Bay of Pigs Invasion", "1953 Iranian coup d'état"

Shit meet fan; The Fed will probobly buy enough so our major oil companies won't go under

Greensboro's Press creates and disseminates "Potemkin villages" through print and television

"The world is bankrupt after thirty years of borrowing from the future to throw a party in the present, and the authorities can’t acknowledge that."

Price–sales ratio hits all time high = Biggest bubble in the history of bubbles, not that it matters

"Q: How much is my house worth? A: Whatever the highest bidder is willing to pay for it." and the past few Economic Links

Too many people and at some point, not enough food

Oil, Oil stocks and pretend money

Wednesday, July 13, 2016; IEA July 13, 2016: "Gasoline Glut Could Cause Oil Price Rout"

Monday, July 11, 2016; What direction does oil look like it's going?

Former Morgan Stanley Chief Asia Economist: "...the world economy is in real trouble" = Greensboro's

"Where Will You Be When the End Game Begins?"; The End Game Already Began Somewhere around the Tech Bubble burst of 1999 and 2000

"Our money is broken, and we need to fix it"