Saturday, Mar 24th

Last update05:20:13 AM GMT

You are here News Energy Oil producers running out of storage space

Oil producers running out of storage space

E-mail Print PDF

As demand for crude has plummeted, the world suddenly finds itself awash in oil that has nowhere to go.

It’s been less than a year since oil prices hit record highs. But now producers and traders are struggling with the new reality: The world wants less oil, not more. And turning off the spigot is about as easy as turning around one of those tankers.

TVNL Comment: We told the world that this would happen and we told the world how to make this happen. You see cure oil is refined into many products; gasoline, heating oil, kerosene, resins, etc. All you have to do is stop using one of these products for a very short period of time and all the oil companies would have to lower prices because they could not simply dump one product and produce the others. This is why demand is managed. This is why they fly planes with no passengers to complete scheduled flights and why they refuse to improve fuel efficiency in cars. All we had to do is park our cars for about 2 full days and we would brinng the oil companies to a halt. If EVERYONE stopped driving for 2 days we could have ended the price gauging. - Jesse Richard, TVNL Editor.


Most Recent Related Stories...

Oil industry falls out of love with Trump

Oil and Gas fall out of love with TrumpThe oil and gas industry’s relationship with President Donald Trump is cooling off. The administration’s 25 percent...

Emergency official: 5 missing after Oklahoma rig explosion

Oklahoma rig explosionFive people are missing after a fiery explosion ripped through an eastern Oklahoma drilling rig Monday...

Watchdog: Texas company illegally charged Energy Dept. $2.5 million in expenses

Summitt Texas Clean Energy charged illegal fees to US gov.t A government watchdog has found that a Texas energy company likely charged the Department of Energy $2.5...

Energy agency rejects Trump bid to boost coal, nuclear power

Rick PeerryAn independent energy agency on Monday rejected a Trump administration plan to bolster coal-fired and nuclear...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!