Publications: Notes at the Margin

The North Sea Market for Crude: RIP (December 18, 2017)


We cover several topics this week. The report begins with the long success and recent death of the North Sea market for crude. While many in Europe and especially the United Kingdom may deny it, the US Gulf of Mexico has emerged as THE center of the global oil market. The UK and the North Sea are now like minor tributaries compared to a great river. Those who resist reality are destined to lose financially to those who recognize the world has changed.


From there, we move on to reporting that Continental Resources’ CEO Harold Hamm’s efforts to restrain US crude oil production have failed. This is followed by a brief review of the anemic growth in global petroleum consumption. Finally, we turn to “OilCoin,” the new cryptocurrency being proposed by a group linked to Wall Street.


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