Too much oil

[HysteryDiagnosis]

http://www.msnbc.msn.com/id/29495753/ <---- More


Oil producers running out of storage space

NEW YORK - Supertankers that once raced around the world to satisfy an unquenchable thirst for oil are now parked offshore, fully loaded, anchors down, their crews killing time. In the United States, vast storage farms for oil are almost out of room.

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

[billybob537]

1. And the oil cos.

cut production to keep prices up!

[Tandalayo_Scheisskopf]

2. So much...

For that Peak Oil frenzy that was gripping people a few short months ago.

I will say it again: The vast majority of that was FUD, spread by oil companies, hedge fund speculators and their willing dupes. Yes, plan for the future. That is what intelligent people do. Yes, move to alternative sources. That is what prudent and frugal people do. But the only people who benefited from the peak oil frenzy were oil companies, oil producers and speculators.

[ThomWV]

3. And yet Exxon continues to rack up record profits and the price at the pump remains high

[BuyingThyme]

4. Not too much until gas is 89 cents per gallon.

[chrisa]

5. Kind of ironic.

Now is our chance to seek out alternate, sustainable fuels.

[HysteryDiagnosis]

6. I've said this several times now... and I am waiting for someone

anyone to either shut these people down, or prove them right and get on with it.

http://www.blacklightpower.com/