You want us doing race track patterns for HOW LONG!!!!? Can I tell my wife how long we will be away? Right. I didn't think so.
You all saw the market and fossil fuel based energy tank along with the price of crude AGAIN today. What you didn't see was MORE PROOF that big oil does not plan to "go away". They plan to burn/sell every gallon of the fossil fuels they have access to. So what do they do if the price isn't "right"?
They STORE IT here, there and everywhere they can until their low price HEAD FAKE is over and they have recaptured their lost market share (see price war to kill renewable energy). Do you know what costs to store crude in a giant oil tanker ship? A LOT! It runs about $25,000 a DAY!
But big oil doesn't want to keep selling oil cheap. They want to address the demand destruction going on by artificially CUTTING the supply. This hanky panky is accomplished by renting oil tankers and keeping them away from land for weeks or months at time
(
like they did in the 1970's - they had oil tankers doing race track patterns in the middle of the Atlantic until the prices went to the moon! - Google it! -
Note: Oil tankers are unstable in open ocean when they are not under way. They have to keep moving. So, if they don't want to go anywhere for a few days or weeks or months, they do race track patterns.)
TOP Gainers (% price change) Last Trade Change Mkt Cap Frontline Ltd. FRO
(17.51%) 4.63 +0.69 2.84B
NEW YORK (TheStreet) -- Shares of the world's largest oil tanker shipping company Frontline (FRO) surged 18.74% to $4.68 in morning trading Monday after a Bloomberg report late last week that plunging oil prices could stimulate demand for oil tankers to store cargoes.
http://www.thestreet.com/story/13007734/1/frontline-fro-stock-surges-today-on-falling-oil-prices.htmlThe next time a fossil fueler talks NONSENSE about "supply and demand", tell him to stick his game theory bullshit where the sun don't shine!