Categories: Market Overview

Oil Tankers Lurk Off The Coast Of California

Oil tankers — 27 of them — have been spotted lurking off the coast of southern California. The footage was taken by the U.S. Coast Guard, as the Coast Guard is monitoring the “increased presence” of oil tankers that are hanging out in the seas near the ports of Los Angeles and Long Beach.

The Coast Guard, doing its job by being responsible for maritime safety, security, and environmental stewardship in American ports and waterways, is coordinating with the relevant sectors in Los Angeles and Long Beach.

“Due to the unique nature of this situation, the Coast Guard is constantly evaluating and adapting our procedures to ensure the safety of the vessels at anchor and the protection of the surrounding environment,” Commander Marshal Newberry said in a statement. “Coast Guard watchstanders, in partnership with the Marine Exchange of Southern California, are closely monitoring each anchorage to manage the increased number of tank vessels we’re seeing off the California coast.”

The tankers are carrying enough crude oil to meet the needs of 20% of the world’s oil consumption, yet they have nowhere to go. This is due to demand for the fuel collapsing. These tankers are pretty much floating storage units for barrels of oil. The LA Times reports that there are almost three dozen ships — which means that more have come after the Coast Guard put out its press release. The LA Times also notes that this is the highest volume of crude to ever float off the West Coast at one time — more than 20 million barrels of crude oil. And these tankers have been floating steadily for 8 days.

We are essentially drowning in oil. With everything being shut down and people staying home, there are fewer people buying gas (only essential personnel). Oil refineries have shut down temporarily. Here in Baton Rouge, ExxonMobil reopened to start producing hand sanitizer for first responders. Drums normally used for oil are now being filled with isopropyl alcohol and Exxon will be donating a batch of 160,000 gallons of sanitizer. This is enough to fill 5 million bottles.

Oil Tankers Lurk Off The Coast Of California, cleantechnica, Apr 27

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