(ZeroHedge)—Two crude oil tankers collided and caught fire near the Strait of Hormuz energy chokepoint, triggering immediate concern across global energy and shipping markets. Iranian naval assets were observed approaching the incident area shortly after the collision, raising the risk of interference. The incident now risks quickly evolving into an ecological disaster.
Bloomberg cites the Pakistan Navy’s new maritime navigation warning issued for the Gulf of Oman around the incident area where Front Eagle, a 1,100-foot supertanker, collided with tanker Adalynn early Tuesday off the coast of the United Arab Emirates, includes the warning of an oil spill covering 10 square kilometers (equivalent to about 2,471.05 acres or the size of a small city).
The plain English navigation warning reads:
Region:
- Gulf of Oman – NAVAREA IX, which covers the northwest Indian Ocean region, including the Persian Gulf and Arabian Sea.
- Charts Referenced: British Admiralty nautical charts BA 2837, 2858, and 3520—used for precise navigation.
Incident:
A collision between two vessels was reported at position Latitude: 25°21.38’N & Longitude: 056°51.62’E (This location is just southeast of the Strait of Hormuz, in the Gulf of Oman).
Environmental Impact:
A visible oil spill covering 10 square kilometers has been observed at the site.
Satellite imagery from a day ago via Tanker Trackers showed Adalynn ablaze and adrift while noting that maritime diesel had leaked from at least one of the vessels.
A significant ecological disaster could be developing near the critical maritime chokepoint. The extent of the spill remains unconfirmed; however, preliminary maritime alerts indicate a surface oil patch has been detected. Satellite imagery—expected in the near term—will be critical in assessing the true scale of the spill.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
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- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.