Guest Blogger Writes About Oil — Does Anyone Understand Tanker, Tankage and Finished Product Storage Issues?

It is all well and good for people to talk about the price of oil, but nobody really understands Tanker, Tankage and Finished product storage issues, transportation and whether the terms of CIF or FOB apply.

There is plenty of Oil…There is not enough capacity to ship it, refine it, store it or use it. You cannot get a Gallon in a Quart jug and an anchored vessel burns money. Just go to the California Energy Commission web site and read. Tanker Fundamentals Study. Tankers are in decline: Ship building on the decline and retiring tankers on the rise and THEN you have not enough tankage in CA to store finished product.