TV News LIES

Friday, Feb 12th

Last update05:20:13 AM GMT

You are here News Energy The dark secrets of the trillion-dollar oil trade

The dark secrets of the trillion-dollar oil trade

E-mail Print PDF

The phenomenon of "floating storage", which has been brought about by a huge over-supply of global tanker capacity and unusual market conditions, is just one example of the multitude of ways in which a small group of private, mostly Swiss-based companies have become adept at turning vast profits from the closed and often murky world of independent oil trading.

The resulting profit can be anything between 15 and 20 per cent – tens of millions of dollars – even after the cost of hiring a tanker is deducted.

More...


Most Recent Related Stories...


Billions of Barrels of Oil Vanish in a Puff of Accounting Smoke

barrels of oil disappearIn an instant, Chesapeake Energy Corp. will erase the equivalent of 1.1 billion barrels of oil...

Scotland hosting new type of offshore wind program

Scotland floats new wind programThe Scottish government said it granted a license to the operators of what Edinburgh said may...

Former Massey Energy CEO Don Blankenship Is Found Guilty

Massey energy CEO GuilityIn October, the federal trial of Don Blankenship, the former CEO of Massey Energy, started at...

Oil Services Co.,Baker Huhes, lays off 10,500

Baker Hughes "Extreme market forces" are in play in the global energy sector, oil services company Baker...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!