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Politics : Peak Oil reality or Myth, of an out of Control System
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From: dvdw©1/13/2015 4:32:41 PM
of 1580
 
The con tango play is bad, just bad. VLCC cost 40K per day minimum.

Compare the details about USA above ground Shell storage versus the economics of the ships,it is horrendous use of capital.
As a result, those onshore tanks are barely a third full, with less than 150 million barrels of the nation's total 439 million barrels of shell storage capacity occupied as recently as October, according to a Reuters analysis of U.S. data. That's by far the highest vacancy rate since the Energy Information Administration began a bi-annual survey of tank farm capacity -- which exclude refinery stocks and oil in pipelines - in 2010.


its just another attempt to Con everyone who is too lazy to do the work…



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