Wednesday, April 22, 2020

Oil Tankers Are Surrounding California

Oil tankers carrying enough crude to satisfy 20% of the world’s daily consumption are gathered off California’s coast with nowhere to go as fuel demand collapses, reports Bloomberg.

Almost three dozen ships -- scattered in waters from Long Beach to the San Francisco Bay -- are mostly acting as floating storage for oil that’s going unused as the coronavirus pandemic shutters businesses and takes drivers off the road.

The more than 20 million barrels of crude is the highest volume of crude to ever float off the West Coast at one time, according to Paris-based Kpler SAS, which tracks tanker traffic.

 Oil in tankers floats off Singapore, the U.S. Gulf Coast and, now, the U.S. West Coast.


1 comment:

  1. Sounds like a big, oil-spill disaster waiting to happen, which Occasional-Cortex will claim as proof that we need to get rid of fossil fuels.