Publications: Notes at the Margin

Frackers as a Force for Stability; IMO 2020 Transition: Smooth? (January 20, 2020)


This report covers two topics. First, we suggest the rise in fracking activity has become a force for price stabilization. Each short-term price increase boosts forward sales. The sales push prices down. Futures markets are playing their intended role: helping producers stabilize income. The second part of the report addresses a claim made in The Wall Street Journal that the IMO 2020 transition has been smooth and is over. The Journal's claim ignores the data that refute it.


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