United American Petroleum Corp (UAPC)

[LouisDesyjr]

Oil and gas shortage?

Right now the problem is that they are running out of places to store the oil.

Large tanker rates have gone up recently because they are using the tankers to store the oil offshore because most other facilities are full.

http://www.reuters.com/article/2015/11/19/oil-tankers-storage-idUSL8N13D42B20151119#EAgrqW6TxwHGUIjK.97
Tanker rate spike dents efforts to store oil glut at sea

LONDON, Nov 19 Record high freight rates are creating more headaches for traders looking to house millions of barrels of unsold crude oil and who already face potential losses due to record high stocks.

They have to decide on whether to use tankers for longer term storage until they can sell their cargoes, or dump them at even more discounted prices in order to keep wells running.

ALSO,
Wall Street Journal Article:
http://www.wsj.com/articles/oil-prices-slide-on-strong-dollar-surplus-worries-1448273666
Oil Prices Fall on Inventory Concerns
Worries about oversupplies outweigh Saudi Arabia news
Updated Nov. 23, 2015 3:07 p.m. ET

Robust output in the U.S., Saudi Arabia and elsewhere pushed the oil market into oversupply in mid-2014 and has kept prices near multiyear lows all year. Analysts say the global glut of crude will likely persist through at least the first half of 2016.

The oversupply is more of a concern than the possibility of a war. I am expecting that once Russia has totally bombed ISIS out of existence, the 'possibility of war' will be gone, leaving oversupply as the problem.

Louis J. Desy Jr.