An oil tanker sailing out of Turkey is now holed-up off of the coast of Texas in international waters following an order by a U.S. judge to seize the oil.
The United Kalavryta is carrying oil taken from an oil field in northern Iraq recently taken over by Kurdish rebels. They pumped the oil to Turkey and are now trying to sell it to the U.S. Iraq claims the oil is stolen and has asked the U.S. to seize the cargo.
Federal Magistrate Nancy Johnson ordered the ship and cargo to be seized by U.S. Marshals if it enters U.S. waters on Monday but says until the ship is in U.S. jurisdiction there is nothing we can do.
KTRH's legal expert Chris Tritico says this illustrates the dangers of relying on foreign oil, "When countries that hold this much oil reserves are going through a civil war, it can effect the entire world and the entire world economy."
The tanker is carrying around $100 million worth of crude which would greatly help the Kurdish cause as they push south to gain more control of Iraq.