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Waiting oil tankers...Tax them !


Frederick
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As it seems the game is to force up oil prices by having tankers full of oil sitting in bays round coasts , Is it not about time governments put on a tax say a million a day per ship for failing to unload at the oil terminal without reasonabe cause . Give them a few days after arrival after that... tax kicks in ? That could put a few quid in the coffers could it not if they continued with the practice ?
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Apart from the fact that this is hardly news, (it's been going on since oil prices tumbled), if a tanker is sat outside territorial limits there is absolutely nothing anybody can do about it, other than the Somalie pirates that is [blink]

It's a fallacy to believe that they are simply there trying to force prices up. The fact of the matter is that most if not all of those cargos will have been bought on forward contracts at prices considerably higher than the current levels and simple economics says that it's better to wait it out until the price recovers sufficiently to at least get your money back. That's not forcing, more being forced !

If you'd bought a flat at pre credit crunch prices would you sell it at a massive loss or wait it out for the market to recover, the same scenario in essence.

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If I recall correctly, the anchorage is off Lyme Bay, hence inside territorial limits.

In principle I agree with you but......If a 4 day grace period was given followed by a tax levy equivalent to the change in value of the cargo was made how do you think it would concentrate the minds of the oil traders?

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Nobody wants to see a loss on a cargo and if the numbers show such a loss then no charge ...But if the ship is sitting there causing a shortage of fuel to push the oil price up before discharging then ... ASBAT . to give it a name .. Anti Social Behaviour Added Tax equal to the added profit they take should make it not worth while . As for sitting outside territorial waters I doubt the chain would be long enough to drop the hook .
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