A huge target. (Reuters/Tim Chong)
Cassie Werber, Quartz: Oil is now so cheap even pirates aren’t stealing it any more
Stealing the oil from a ship is no mean feat.
Oil tankers are enormous, and ships that carry expensive cargo are designed to be difficult to board. Stealing can mean hijacking the original tanker, disabling its tracking devices, taking it to a location where it can’t be spotted, and transferring thousands of heavy barrels to a different vessel that can then be sailed away. Stealing crude also means finding a buyer for it, or else getting involved in the messy and dangerous business of illegal refining.
Over the past six months, the price of oil has plunged due to a global oversupply. And for some pirates, it’s just not worth stealing it any more.
Read more ....
Update: I guess for these pirates it is now time to find another line of work.
1 comment:
Maybe if banks can charge you for keeping your money (ZIRP / NIRP), gas stations could pay us for filling up?
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