The Market Oracle: Obscure Maritime Law ‘Practically Guarantees’ Profits for These Energy Companies

“The surge in crude oil from major U.S. basins, such as the Bakken and Eagle Ford, has far outstripped the ability of the industry to build and operate more ships. According to Poten & Partners, a New York-based maritime consulting firm, leasing costs for Jones Act vessels have skyrocketed by 87% in the last two years.”