Replies to post #184290 on ERHC Energy Inc (ERHE)

[miamidrift]

125 million barrels' worth is sitting on tankers -- normally that amount is close to zero

Good thought, Dadd.
Maybe it might have something to do with Iran. Just in case...things seem to be a bit unstable over there.

[Jim Long]

Dadd,
Offshore where? Whose coast? I did not see any reference to any particular country. Please explain Makes you wonder if they are hoarding them for some special reason..... Who is the "they" in that comment?

If memory serves me correctly it was just last year that the Iranians, alone, had 22 tankers full of their crud oil that no one wanted due to expensive refinery costs. If that number has not changed much then it accounts for ~ 20% of today's total.

Maybe US and Europe are expecting exceptionally cold winter? Or maybe the world recession is inhibiting consumption.

Please help me understand what I am missing.

Thanks,
Jim