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Archive Home > 2009 > January > 18 > Where the oil should go, few know

Where the oil should go, few know

Uncertainty over oil prices causes tankers to idle at sea

By Clifford Krauss / The Bulletin
January 18, 2009

From the Indian Ocean to the Atlantic to the Gulf of Mexico, giant tankers brimming with oil are resting at anchor or slowly tracing racetrack patterns through the sea, heading nowhere.

The ships are marking time, serving as floating oil-storage tanks. The companies and countries leasing them....

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