For a year now, profiteers, to include our friends the banksters, have been buying up/renting out the oil tankers. Right after the spill, they increased their grip. It's all about profit at our expense.
We should have no moral qualms about commandeering these tankers after the billions we gave these assholes.
Joanne99 posted this today:
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=8415664excerpts from articles)
Traders Boost Oil Tanker Storage, Morgan Stanley Says (Update1)
April 26, 2010,
April 26 (Bloomberg) -- Traders increased the number of vessels used to store crude oil by 75 percent last week as the potential profit from storage rose, Morgan Stanley said.
There were 21 oil tankers storing dirty products last week, 20 of them very-large crude carriers, up from 12 vessels in the previous week, Ole Slorer, a Morgan Stanley analyst, said in a report yesterday. Among the nine vessels are four in Iran.
and there are older articles that show how long they've been quietly doing this
Jan. 15 (Bloomberg) -- Morgan Stanley is seeking a supertanker to store crude oil, joining Citigroup Inc. and Royal Dutch Shell Plc in trying to profit from higher prices later in the year, four shipbrokers said.
The bank has yet to find a suitable vessel, said one of the brokers, all of whom asked not to be identified because the information is private. Carlos Melville, a spokesman for Morgan Stanley in London, declined to comment.
“There’s a lot of people looking for storage,” Denis Petropoulos, London-based head of tankers at Braemar Shipping Services Plc, the world’s second-largest publicly traded shipbroker, said by phone.
Banks and commodity traders are seeking new ways to make money after the Standard & Poor’s 500 Index fell by the most since 1937 last year and crude oil prices dropped more than $100 a barrel from their peak. Companies including Koch Industries Inc. and BP Plc are hoarding enough crude at sea to supply the world for almost a day.
...
Morgan Stanley owns half of Heidmar Inc., which operates smaller oil tankers. Heidmar hasn’t had demand for its tankers to store oil, probably because they aren’t the largest supertankers that investors need for the contango trade, Tim Brennan, the company’s chief executive officer, said by phone Jan. 8.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aZ8zTUi12IkY Rec'd