Oil tank farm along NJ Turnpike in Linden, New Jersey October, 1979. (Photo by Jack Mecca/Getty Images)Jack MeccaThe internet is awash in skepticism about the supposed looming oil glut as commentators note that, despite the IEA’s implied inventory build of 800 million barrels this year and 1200 million barrels next year, most of that has not shown up in the data. The figure below shows the implied inventory build calculated using the IEA’s global supply minus global demand and assuming OPEC production remai ...