Marine Shipping Company- Oil Issue

Marine Shipping Company- Oil Issue

            From a number of indications that we are seeing currently, it is apparent that we are heading to the same crisis that we found ourselves in during the periods 1973 to 1979. The signs that were evident during this period are the same signs that are evident now an indication of the energy crisis that we may be heading to. This should act as warning signs of the hard and tough times ahead of. The dependence of the United States on imported petroleum products has kept on increasing over the last few decades and it’s at record levels. The petroleum stock is at its low levels; the strategic petroleum reserves (SPR) in relation to the commercial petroleum inventories that are currently being experienced now are matching the low historic proceedings that were experienced in 1973 and 1979 crisis. The probability of the nation experiencing an energy crisis has never been as high as what is evident now.

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