Publications: Notes at the Margin

Crude and Products: The New Commodity, Implications for Price Behavior (May 16, 2016)


Oil is the new corn. This line has been used in The Petroleum Economics Monthly and various Notes at the Margin. We examine the implications of the transformation of hydrocarbons here. The monopoly/oligopoly game has now ended. There are no controls on crude oil production. Given this situation, the focus turns to price behavior in a market where all parties choose to produce at maximum rates and the question becomes what can one expect.


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