50 oil tankers loitering off British coast as they lie in wait for fuel price hikes

[ensho]

http://www.dailymail.co.uk/news/worldnews/article-1229337/Petrol-prices-Oil-tankers-loitering-British-coast-lie-wait-price-hikes.html#ixzz0XV6Y4J1S


More than 50 oil tankers are anchored off Britain - pieces in a game in which the only winners are market speculators.

The losers are the millions of British motorists paying over the odds for their petrol and diesel.

After yesterday's report in the Daily Mail on how several so-called 'oil shark' tankers were moored near the Devon coast, dozens more vessels were revealed to be loitering off-shore.

Some are carrying aircraft fuel or fuel for homes. Others are empty, waiting to be restocked before setting off around the globe.

But according to industry experts, a significant number are 'oil sharks' - tankers that have been cynically told to wait for crude prices to be driven up before they unload their cargo.

With values soaring on the international markets, fuel made from their oil is unlikely to appear on a petrol station forecourt any day soon.

Paul Watters of the AA said: 'Tankers are off the UK coast and also off the U.S. They are acting as storage tanks. As always, motorists are the victims in this. They are at the end of the food chain.'

-snip-

In the course of its journey from wells to the refineries, a barrel of oil may be bought and sold by different traders many times on the international markets.
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"also off the U.S." hhmmm

[AndyA]

1. And what has been done to address this?

What has been done to address the obscene oil company profits during the price gouging of 2008?

What has been done to put a stop to the speculators, who many believe were responsible for the high prices of gasoline and oil products?

What is being done to prevent oil from escalating again, and putting a stop to the possibility of any recovery?

Get the lead out, Obama. Enough on the wars. Enough of trying to appease the GOP. DO YOUR JOB!

[HCE SuiGeneris]

2. We are hostages to the money barons.

It's criminal.

[Dogmudgeon]

3. Give them until the first week in January

Six weeks or so.

Is that so much to ask?

At least the UK isn't 100% dependent on the automobile.

--d!

[Liberation Angel]

4. Oil companies bankrolled Hitler-these are further crimes against humanity

that's all

[Submariner]

5. Meanwhile, ghost ship cities develop as world trade sinks

http://www.floatinginthecity.com/floatinginthecity/2009/09/ghost-ship-cities-develop-as-world-trade-sinks.html







My new job went south when the ships stopped crossing the pond.

[notesdev]

6. if someone had the guts

To sink a few of those things, this nonsense would come to a screeching halt.

Oh, to make things even more interesting, a lot of those tankers are being leased by the very companies that should have gone bankrupt last year but didn't because your money was given to them against your will. So they've turned around and used your money to jack up the cost of living.

[Sinti]

7. Create scarcity to increase profit margins - classic

happens in every commodity in the world - and of course it sux.

[RB TexLa]

8. You can't force people to sell their oil at a given time.

[rucky]

9. Hooray for cartels!

[ensho]

10. kicking so the Sunday DUers know about this

nt