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Open original source ↗Lots of posts in my feed crowing that empty tankers are sailing to the US for crude oil. I guess they forgot that this means demand for US crude and higher prices.
Go to your local gas station and see if you can spark a "U-S-A" chant at the pumps.
Let us know how it goes.
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Yes, it appears supertankers are heading to the US to get oil. The US exports 5 million barrels a day. So, the US has it. BUT.... The majority of Middle Eastern crude oil goes to Asia. That is a 21-day trip from the Persian Gulf versus a 50+ day trip from the United States. (A fully laden supertanker tops out at 14 to 17 MPH) So, if the world is going to get its crude from the US, it needs twice as many oil tankers. Expanding the fleet is a 3- to 5-year process.
biancoresearch ↗