Comments on: Odd Sight off Devon Coast is Sign of the Times

By: Jim Avery

Jim Avery — Wed, 06 May 2009 21:53:43 +0000

I just googled to remind me where I saw this story and found you can track where these tankers are online here:

http://www.shipais.com/currentmap.php?map=Teignmouth

By: Darren Beale

Darren Beale — Wed, 29 Apr 2009 15:52:02 +0000

Apparently the term to describe this trading voodoo is Contango: http://tinyurl.com/moneyweek-contango

By: Andy

Andy — Wed, 29 Apr 2009 12:47:24 +0000

At last! Practical carbon sequestration!

By: Jim

Jim — Tue, 28 Apr 2009 13:25:10 +0000

Congratulations on getting invited to speak at TED Global in July!
http://bit.ly/X2yUP

By: Steve Atkins

Steve Atkins — Tue, 28 Apr 2009 11:07:56 +0000

I’m looking for a small wooden boat on freecycle, just big enough to hold 10 barrels of oil. Then I’ll find a cheap mooring in Weymouth harbour, or possibly Portland harbour (as that seems a popular place for fuel storage facilities).

My little boat would hold enough oil to keep me lubricated until, hmmm, let me see… as an average UK citizen, maybe 12 months?

Now imagine 60 million little boats bobbing around our UK shores – that, yes that is how much oil we consumed in 2007.

ref: http://transitiontowns.org/forum/topic.php?id=424&replies=11

By: Mike Grenville

Mike Grenville — Tue, 28 Apr 2009 10:35:21 +0000

These ships are likely to be there for a while and this is being repeated in many other places.

China’s oil demand fell by nearly six per cent year-on-year in the first quarter of 2009, Energy Intelligence (EI), the US-based energy advisory firm has said. EI did not take into account stockpiles that the Chinese government has allegedly been building to make use of the low oil prices. The statistics exacerbates the widespread fear among analysts that oil demand, and therefore oil prices may seriously suffer this year because of low “actual demand”.

According to Bloomberg traders are storing 100 million barrels of oil at sea, enough to supply Europe for five days. Oil is mostly being stored on modern double-hulled carriers. In fact 10% of all of the 405 such carriers in service is used just for storage at this point.

By: Jeremy

Jeremy — Tue, 28 Apr 2009 07:59:51 +0000

or a return of Cornish piracy…

I had no idea that oil was bought and sold en-route, but apparently its not unusual for the destination to change depending on who’s paying the most. I wonder how long it will be before governments clamp down on oil speculation.