A few years ago, off the east coast, my brother would see large numbers of oil tankers just anchored off short waiting for prices to increase before off-loading (articles at the time were talking about a ship's contents being bought and sold by speculators several times during the trip) even while they were having shortages.
-Bill
A few years ago?? I seem to recall that story being told back in the 1970s..
I'm only 65, so the 'shortages' of the 1970s was my first taste of waiting in gas lines..
With the glut of speculation money available (thanks to the Federal Reserve) and the turmoil in Libya, Bahrain, Iraq, Iran, Egypt, Tunisia, etc., I'll bet it's happening again as we "speak". But at least the recession is over, right? 8)
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A few years ago?? I seem to recall that story being told back in the 1970s..
I'm only 65, so the 'shortages' of the 1970s was my first taste of waiting in gas lines..
Yep, this was from the last quick peak and slow drop in oil prices (search brings up blog posts from middle of 2009).
-Bill
With the glut of speculation money available (thanks to the Federal Reserve) and the turmoil in Libya, Bahrain, Iraq, Iran, Egypt, Tunisia, etc., I'll bet it's happening again as we "speak". But at least the recession is over, right? 8)