Equilibrium price

A Very Large Reason For Rising Gas Prices

Now, to our list of shortages, here and here, we can add oil tankers. Oil Tanker Shortages. With limited travel through the Strait of Hormuz for what had been 20 percent of the world’s oil supply, and a debilitated Saudi pipeline that could have been an alternate route, we need more VLCCs (Very Large Crude Carriers). As a result, this year’s orders, so far, are at 217–124 more than the 93 for all of 2025. Shown in our featured image, the VLCC can be as long as the Eiffel Tower and as wide as a football field. Costing around $130 million each, just one VLCC can haul 2 million barrels of crude oil. ….[READ]