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U.S. awash in oil, but global demand drives prices

Chron.com -- At midnight on April 11, a 940-foot tanker maneuvered into the dock at the oil terminal in Valdez, Alaska, carrying an unusual cargo for a returning ship.

Sloshing in its tanks were more than 12 million gallons of Alaskan crude, at least a quarter of the cargo the ship had carried away from Valdez two weeks earlier.

The Alaskan Explorer had sailed to a Washington refinery but was forced to return to Alaska with 300,000 barrels because the onshore storage tanks were too full to accept it, confirmed Anil Mathur, CEO of the Alaska Tanker Co., which owns the ship.

"Not the normal course of business," said John Kotula, one of the few outsiders privy to the incident because of his position as manager of the state of Alaska's environmental office in Valdez.

The tanker's inability to offload

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Submitted Apr 29, 2012 By: angel4me

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jb107 Champion Author New Jersey Posts:9,690 Points:2,649,600 Joined:Sep 2005	Message Posted: Apr 29, 2012 7:29:39 PM Ignore jb107 Report Abuse What we need is more efficient distribution.
jorod55 Champion Author California Posts:1,612 Points:458,450 Joined:Dec 2011	Message Posted: Apr 29, 2012 7:28:56 PM Ignore jorod55 Report Abuse Supply? Lack of Demand? Just keep raising the price to cover the bottom line. More record profits for 2012.
Cashless Champion Author Akron Posts:3,655 Points:761,030 Joined:Apr 2011	Message Posted: Apr 29, 2012 7:23:18 PM Ignore Cashless Report Abuse O.K.
katmandue Champion Author Detroit Posts:8,210 Points:2,161,800 Joined:Jul 2006	Message Posted: Apr 29, 2012 7:22:30 PM Ignore katmandue Report Abuse We don't need to drill more we need to use what we have more efficiently.
w9med Champion Author Gary Posts:1,128 Points:329,945 Joined:Aug 2011	Message Posted: Apr 29, 2012 7:20:54 PM Ignore w9med Report Abuse And they want you to believe high prices are justified. I say bull!
portlandcat Champion Author Tennessee Posts:1,918 Points:346,210 Joined:Apr 2011	Message Posted: Apr 29, 2012 7:18:36 PM Ignore portlandcat Report Abuse OK
MrLuigi Champion Author Massachusetts Posts:4,908 Points:993,410 Joined:Jun 2005	Message Posted: Apr 29, 2012 7:18:20 PM Ignore MrLuigi Report Abuse just more proof that supply and demand aren't making the prices
uatide13 Rookie Author Alabama Posts:23 Points:13,490 Joined:Apr 2012	Message Posted: Apr 29, 2012 7:13:55 PM Ignore uatide13 Report Abuse Thanks
gas_too_high Champion Author Columbus Posts:11,686 Points:1,959,415 Joined:Aug 2005	Message Posted: Apr 29, 2012 7:11:56 PM Ignore gas_too_high Report Abuse One would think that, if this happens often enough, this crude could be exported, instead of just sitting in storage tanks next to a refinery. GTH
FrankTA2 Champion Author New York Posts:4,407 Points:1,121,690 Joined:Jun 2007	Message Posted: Apr 29, 2012 7:10:53 PM Ignore FrankTA2 Report Abuse Big oil drives prices.
mattymattmatt All-Star Author Scranton Posts:905 Points:386,935 Joined:Mar 2011	Message Posted: Apr 29, 2012 7:06:52 PM Ignore mattymattmatt Report Abuse Herp Derp.
WebGabe Champion Author Pennsylvania Posts:2,505 Points:523,345 Joined:Jun 2007	Message Posted: Apr 29, 2012 7:05:00 PM Ignore WebGabe Report Abuse Bad bad bad.
adgam Champion Author Orange County Posts:2,269 Points:509,545 Joined:Nov 2011	Message Posted: Apr 29, 2012 7:03:47 PM Ignore adgam Report Abuse Just great
Bildawg Champion Author Ohio Posts:1,086 Points:503,920 Joined:Oct 2011	Message Posted: Apr 29, 2012 7:01:48 PM Ignore Bildawg Report Abuse hmmmmm
radiorumor Champion Author Texas Posts:2,946 Points:781,315 Joined:Feb 2011	Message Posted: Apr 29, 2012 7:00:54 PM Ignore radiorumor Report Abuse This has to be Obama’s fault some how
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Apr 29, 2012 7:00:49 PM Ignore sammy518 Report Abuse sure
slowpoke63 Champion Author Louisiana Posts:2,817 Points:903,890 Joined:Jul 2009	Message Posted: Apr 29, 2012 7:00:26 PM Ignore slowpoke63 Report Abuse ok
bvrbill Champion Author Eugene Posts:3,440 Points:545,250 Joined:Jul 2011	Message Posted: Apr 29, 2012 7:00:07 PM Ignore bvrbill Report Abuse We need to continue the development of natural gas vehicles. While the rest of the world burns oil in the global market, maybe we can keep natural gas domestic.
memo81 Champion Author St. Louis Posts:2,489 Points:472,200 Joined:Feb 2012	Message Posted: Apr 29, 2012 6:59:37 PM Ignore memo81 Report Abuse Unacceptable
Blue48 Champion Author Illinois Posts:7,445 Points:1,665,645 Joined:Feb 2007	Message Posted: Apr 29, 2012 6:56:51 PM Ignore Blue48 Report Abuse WASTE OF A TRIP!
robaloma Champion Author Houston Posts:2,731 Points:718,025 Joined:Feb 2011	Message Posted: Apr 29, 2012 6:56:30 PM Ignore robaloma Report Abuse great
darkknight1 Champion Author Winston-Salem Posts:4,475 Points:922,785 Joined:Nov 2010	Message Posted: Apr 29, 2012 6:56:20 PM Ignore darkknight1 Report Abuse The supply is not the problem...
GLM4205 Champion Author Toledo Posts:4,187 Points:826,045 Joined:Dec 2010	Message Posted: Apr 29, 2012 6:51:55 PM Ignore GLM4205 Report Abuse Just sell the surplus! Think outside the box.
ratones1 Champion Author Los Angeles Posts:2,987 Points:756,005 Joined:Mar 2011	Message Posted: Apr 29, 2012 6:49:11 PM Ignore ratones1 Report Abuse OK...
kishoreCA Champion Author Ventura Posts:3,297 Points:419,620 Joined:Mar 2012	Message Posted: Apr 29, 2012 6:47:11 PM Ignore kishoreCA Report Abuse I never understand this gas business...
Cakes77 Champion Author Harrisburg Posts:5,290 Points:1,678,270 Joined:Aug 2006	Message Posted: Apr 29, 2012 6:43:03 PM Ignore Cakes77 Report Abuse ..and yet the prices stay up.
babugp Veteran Author Philadelphia Posts:339 Points:76,685 Joined:Mar 2012	Message Posted: Apr 29, 2012 6:43:02 PM Ignore babugp Report Abuse k
ILANGE9 Champion Author Illinois Posts:7,754 Points:1,623,925 Joined:Sep 2008	Message Posted: Apr 29, 2012 6:42:01 PM Ignore ILANGE9 Report Abuse The world is going to Hell and we're all in hand baskets.
Jeffro61 Champion Author Cleveland Posts:2,408 Points:2,310,345 Joined:Oct 2005	Message Posted: Apr 29, 2012 6:40:00 PM Ignore Jeffro61 Report Abuse Then why aren't prices dropping faster.
rodzilla123 Champion Author San Diego Posts:4,535 Points:1,061,070 Joined:Jul 2008	Message Posted: Apr 29, 2012 6:39:47 PM Ignore rodzilla123 Report Abuse Most countries in the World have a Domestic Price and a world price of Crude Oil. This allows them to sell cheeper to their Citizens that the world. Only Greedy Wall Street BUGGERS want to make them the same here in America.
BWJM Champion Author KW Posts:1,113 Points:303,780 Joined:Oct 2011	Message Posted: Apr 29, 2012 6:38:50 PM Ignore BWJM Report Abuse ok
ED6 Champion Author Riverside Posts:9,594 Points:1,872,940 Joined:Jul 2007	Message Posted: Apr 29, 2012 6:35:18 PM Ignore ED6 Report Abuse Still $4.00/gallon here in SoCal.
VernonOR Champion Author Oregon Posts:3,013 Points:758,005 Joined:Aug 2010	Message Posted: Apr 29, 2012 6:32:04 PM Ignore VernonOR Report Abuse Supply and demand is broken when it comes to fuel.
heysailor Champion Author Pittsburgh Posts:9,717 Points:2,360,145 Joined:Mar 2006	Message Posted: Apr 29, 2012 6:26:37 PM Ignore heysailor Report Abuse It would help if we didn't export as much refined product.
eye-spy Champion Author Quebec Posts:4,723 Points:2,445,320 Joined:Feb 2005	Message Posted: Apr 29, 2012 6:26:06 PM Ignore eye-spy Report Abuse I tend to agree with "Rancher23".
wang91554 Champion Author San Jose Posts:3,305 Points:1,228,610 Joined:May 2009	Message Posted: Apr 29, 2012 6:24:56 PM Ignore wang91554 Report Abuse Saudi oil is still cheaper, unfortunately. Maybe they'll run dry soon. Then we can sell it to them at double the price.
WIWalt Champion Author Wisconsin Posts:1,852 Points:441,965 Joined:Mar 2012	Message Posted: Apr 29, 2012 6:24:23 PM Ignore WIWalt Report Abuse Up at the pump again
boborobot All-Star Author Michigan Posts:503 Points:441,615 Joined:Dec 2011	Message Posted: Apr 29, 2012 6:23:43 PM Ignore boborobot Report Abuse Interesting
CAD69 Champion Author Milwaukee Posts:3,341 Points:873,715 Joined:Nov 2010	Message Posted: Apr 29, 2012 6:21:46 PM Ignore CAD69 Report Abuse Wow!
Ken2OD Champion Author Grand Rapids Posts:9,208 Points:1,998,665 Joined:Dec 2005	Message Posted: Apr 29, 2012 6:21:24 PM Ignore Ken2OD Report Abuse The USA has been dealing with the "haves" and the "have nots" for decades. Back then, we could tell the others what to do. Now the shoe is on the other foot and we have become the "have nots"! The Third World countries are now setting the rules for us to follow.
MG_Sputnik Champion Author Philadelphia Posts:7,434 Points:1,987,595 Joined:Apr 2006	Message Posted: Apr 29, 2012 6:19:07 PM Ignore MG_Sputnik Report Abuse Doesn't matter how much we conserve now.
jmdk721 Champion Author Missouri Posts:1,184 Points:594,830 Joined:Jul 2011	Message Posted: Apr 29, 2012 6:18:51 PM Ignore jmdk721 Report Abuse ok
Rancher23 Champion Author Cincinnati Posts:3,333 Points:687,045 Joined:May 2011	Message Posted: Apr 29, 2012 6:15:08 PM Ignore Rancher23 Report Abuse It's painfully obvious to everyone that Oil prices are manipulated by speculators and Oil companies or else Oil would be less than half the price it is and Gas would be well under $2 a gallon, But Big Oil Exec and Speculators do not want that to happen!!!!!
LadyBugNIL Champion Author Illinois Posts:3,813 Points:644,520 Joined:Sep 2010	Message Posted: Apr 29, 2012 6:10:03 PM Ignore LadyBugNIL Report Abuse ok
ericbcire Champion Author Nevada Posts:4,660 Points:1,294,435 Joined:Aug 2009	Message Posted: Apr 29, 2012 6:08:11 PM Ignore ericbcire Report Abuse If demand drove prices, oil would be under $40 per barrel.
jerej829 Champion Author Memphis Posts:2,969 Points:720,350 Joined:May 2011	Message Posted: Apr 29, 2012 6:07:57 PM Ignore jerej829 Report Abuse Yea
mcmonsta Champion Author Honolulu Posts:3,347 Points:845,320 Joined:Sep 2009	Message Posted: Apr 29, 2012 6:07:50 PM Ignore mcmonsta Report Abuse less supply does usually equate to higher prices & who do you think will pay for this booboo?
mikaye Champion Author Cleveland Posts:3,959 Points:890,185 Joined:Jun 2010	Message Posted: Apr 29, 2012 6:06:13 PM Ignore mikaye Report Abuse another example of gouging. reduce supply.
Tegger Champion Author Ontario Posts:3,264 Points:1,674,060 Joined:Nov 2005	Message Posted: Apr 29, 2012 6:06:08 PM Ignore Tegger Report Abuse Interesting
theschmuck Champion Author Michigan Posts:3,035 Points:1,533,785 Joined:Mar 2007	Message Posted: Apr 29, 2012 6:05:57 PM Ignore theschmuck Report Abuse This just goes to validate that they don't care about our own folks here at home, just so much BS.
OKRifle Champion Author Oklahoma City Posts:10,582 Points:1,837,985 Joined:Oct 2007	Message Posted: Apr 29, 2012 6:05:36 PM Ignore OKRifle Report Abuse No help for the home folks!