One more reason that your gas prices keep rising.. - DFWstangs Forums
 
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post #1 of 13 (permalink) Old 11-19-2009, 08:39 AM Thread Starter
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One more reason that your gas prices keep rising..

This article is specifically about England but the exact same thing is happening in the Gulf of Mexico right now..



http://www.dailymail.co.uk/news/arti...Mail+Online%29

Quote:
Sharks off the British coast:
Oil tankers refuse to unload until prices rise... keeping YOUR fuel costs soaring

By Ray Massey
Last updated at 12:09 PM on 19th November 2009

These tankers have been parked off our shores for months, refusing to unload their oil until prices have risen even higher. The delay makes millions for speculators... and keeps your petrol costs soaring.

Laden with fuel, three oil tankers sit idly within sight of the British coastline, playing a waiting game that is driving up petrol prices for hard-pressed motorists.

They are part of a flotilla of ten vessels refusing to unload their cargo until market speculation has driven up its price to the level they want.

And as the value of that cargo is currently rising by over 1million a day, driven partly by profiteering traders and speculators, it is unlikely to see a petrol station any time soon.

With such tactics, it is not hard to see why prices at the pumps are forecast to have risen by 26 per cent in a year by this Christmas.

AA president Edmund King said: 'Traders and speculators seem to be storing up oil until the price rises. Drivers can expect more hikes in the pipeline. Motorists are paying the price of this at the pumps.'

Residents near Brixham in Devon have watched with growing anger as the tankers have anchored in Lyme Bay for the past two months.

The price of a barrel of oil has increased from $40 a barrel a year ago to $80, with the cost expected to soar even higher in the next few months.

Even from the start of the tankers' stay in Lyme Bay, the value of the oil they carry has risen from 313million to 378million - an increase of 65million, or more than 1million a day.

It means a 21 per cent profit for doing nothing more than simply watching and waiting.

Record amounts of fuel are now being stored in such a manner around the world - indirectly helping to push up petrol prices on the forecourt.

Oil pumped out of the ground by the major producers such as BP, Shell and Exxon goes by pipeline to tankers which then circle the globe.

In the course of their journey the oil may be bought and sold to different traders many times on the international commodity markets, often in just one day.

Some of these unidentified oil traders may be big-name players within the industry, but others could be the 'Arthur Daleys of the international oil world', say City experts.

The price drivers pay at a forecourt - currently touching 110p-alitre or 5-a-gallon - is largely determined when the oil reaches an onshore refinery, from where it takes two months to work its way through to the pumps.

But until it gets to the refinery speculators are free to drive up the price thanks to the age-old capitalist model of supply and demand.

If the price is not high enough, the tankers simply cruise around the high seas - or park in a safe haven - until it goes up sufficiently high to sell on in the UK or elsewhere.

City analysts say the refusal to unload ultimately drives up the price motorists pay at the pumps.

Experts say every $2 rise in the price of oil puts 1p on the price of a litre - adding 50p to every fill-up.

In total, the Lyme Bay tankers carry a million tons of oil.

Once refined, that will create 250,000 tons of petrol - equivalent to 340million litres - enough to fill up nearly seven million Ford Mondeos.

A spokesman for Brixham coastguards said the huge ships were now a familiar sight in the bay: 'Some have been there two months or more,' she said.

'They're awaiting orders. The cargo will be worth more now than when they first arrived.'

As the Mail reported on Tuesday it was disclosed that petrol prices were on track to have soared by 26 per cent this year - fuelled by speculators and tax rises - and were set to hit 110p a litre by Christmas.

They are already at 108.6p a litre with diesel just short of an average 5 gallon at 109.8p a litre.

The last time prices were so high was when oil was trading at $100 a barrel in September 2008.

The extent of oil speculation is even beginning to alarm producer countries. The Arab-dominated OPEC oil cartel warned last week it will increase supply and thus reduce the price if the speculators do not relent.

One of the giant crude oil tankers, the 159,300-ton SKS Segura, registered in Norway, first arrived on September 24 - more than eight weeks ago.

The 50,300-ton Tristar Kuwait tanker, registered in the Bahamas, has been awaiting orders in Lyme Bay since September 2.

Another anchored in Lyme Bay is the 43,000-ton Alkman, also registered in the Bahamas, which arrived on November 1.

The 72,000-ton Petali Lady, registered in Liberia, has been anchored in Lyme Bay since September 27.

And the 99,000-ton Danishregistered Torm Ingeborg has been there since October 10.

This is not the first time tankers have anchored in Lyme Bay. Several ships did the same last April before moving on.

Meanwhile in China...

Britons are not the only ones facing fuel problems as producers refuse to supply them with fuel.

This picture shows taxis taking extraordinary measures to get their petrol tanks filled up on an overpass in China.

The taxis in the south-west Chongqing municipality yesterday were forced to wait hours in the queue thanks to the worst natural gas shortage in years.

Supplies have been diverted to snowstorm-hit northern China - and faced with poor profit margins, producers claim they have no incentive to increase their output, just like the oil producers sitting off the British coast.

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post #2 of 13 (permalink) Old 11-19-2009, 09:19 AM
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May pay to become a pirate..

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #3 of 13 (permalink) Old 11-19-2009, 09:30 AM
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Where are the damn U-Boats when you need them?
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post #4 of 13 (permalink) Old 11-19-2009, 11:36 AM
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Fire missiles at the motherfuckers... see if they come into port.
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post #5 of 13 (permalink) Old 11-19-2009, 12:11 PM
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The thing is, if the price drops they lose money. Let them play that game all they want. I hope the Arabs do produce more. Some of these oil speculators really do need to lose their asses.
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post #6 of 13 (permalink) Old 11-19-2009, 12:56 PM
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its a free market

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post #7 of 13 (permalink) Old 11-19-2009, 01:11 PM
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Quote:
Originally Posted by 46Tbird View Post
Fire missiles at the motherfuckers... see if they come into port.
my thoughts exactly
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post #8 of 13 (permalink) Old 11-19-2009, 01:51 PM
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Yea, blow the oil up!


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post #9 of 13 (permalink) Old 11-19-2009, 02:35 PM
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Hmmmm...
http://www.frontline.bm/
http://www.frontline.bm/IR/sec.shtml
http://en.wikipedia.org/wiki/Frontline_Ltd.

I'd imagine if you could capture several ships, sell the oil on the open market at $20/barrel you could hammer the oil market pretty good.

Of course, this is just a pipe dream to fuck those that have been taking their time deep dicking us.

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #10 of 13 (permalink) Old 11-19-2009, 03:18 PM Thread Starter
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Quote:
Originally Posted by cannonball996 View Post
its a free market
There is nothing free about it when everyone is colluding to artificially drive up prices.

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post #11 of 13 (permalink) Old 11-19-2009, 09:49 PM
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Quote:
Originally Posted by Sean88gt View Post
Hmmmm...
http://www.frontline.bm/
http://www.frontline.bm/IR/sec.shtml
http://en.wikipedia.org/wiki/Frontline_Ltd.

I'd imagine if you could capture several ships, sell the oil on the open market at $20/barrel you could hammer the oil market pretty good.

Of course, this is just a pipe dream to fuck those that have been taking their time deep dicking us.
If there would be no problem finding a buyer for what would obviously be stolen I'd have to say this is a viable idea. We could get some of those Blackwater guys on the staff for half the profit and then split the rest...

When's our next meeting?
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post #12 of 13 (permalink) Old 11-19-2009, 11:25 PM
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Quote:
Originally Posted by Fox466 View Post
If there would be no problem finding a buyer for what would obviously be stolen I'd have to say this is a viable idea. We could get some of those Blackwater guys on the staff for half the profit and then split the rest...

When's our next meeting?
You don't think you'd have buyers lined up at $20/barrel? The refineries could play games, but I think you'd have buyers, big time. 10 ships would drive the price through the floor. The secret is to do one, take the money and short oil everywhere, then unload a glut of oil on the market.

George Soros would be proud!

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #13 of 13 (permalink) Old 11-20-2009, 08:06 AM
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The oil industry has been colluding since it's inception when Rockefeller started Standard Oil. You are just now catching on?
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