152 comments on DrumBeat: December 16, 2008
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152 comments on DrumBeat: December 16, 2008
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GAIA Host Collective
Re: Oil Stored at Sea Expands as OPEC Meets on Output Cut
"The big rumour going around in the last ten days is that the tanker market is tight because everybody's storing oil on tankers. I talked to the chairman of the world's largest tanker company on Monday and he said that they'd checked around and he thinks there are between 4 and 6 VLCCs chartered to, in the future once they are empty, store oil. There are none so far."
- Matt Simmons
How to reconcile the two?
Go slow/Minimum Fuel Cruise tankers.
Alan
Place your tankers near Somali waters.