🛢️ The Fugitive Who Rewrote Oil Trading

Hey OilPatch Crew, Adam Oxsen here. Ever heard of Marc Rich? This guy turned oil trading upside down. He went from fleeing Nazi persecution to building a $2 billion empire, only to become America’s most wanted fugitive. His story is wild, messy, and packed with lessons for anyone in the energy game. 

I’ve boiled it down to 10 takeaways to help us navigate the highs and lows of this industry:

1. Game-Changing Ideas Can Redefine an Industry
Marc Rich’s creation of the spot oil market in the 1970s shattered the chokehold of long-term contracts. That single move still powers today’s $4 trillion oil industry. Innovate boldly—it can change everything.

2. Profit Over Politics Comes at a Cost
Rich traded with Iran during the 1979 hostage crisis, putting business above geopolitics. It made him millions but painted a target on his back. In this industry, we’ve got to weigh the ethical lines we’re willing to cross.

3. Play Hard, But Know the Legal Blowback
In 1983, Rich got slapped with 65 criminal counts—think $48 million in tax evasion and wire fraud. Aggressive moves can bring big wins, but they can also land you in hot water if you’re not careful.

4. Global Reach Can Outpace Local Laws
Rich ran his empire from Switzerland for 17 years as a fugitive, dodging the FBI. It shows how tough it is to enforce U.S. laws on global oil players. We’re playing on a world stage—act like it.

5. Money and Politics Can Stir a Storm
Rich’s 2001 pardon by President Clinton, tied to hefty donations from his ex-wife Denise, sparked outrage and investigations. It’s a stark reminder that political influence in this industry can come with serious blowback.

6. Geopolitical Loopholes Can Be a Goldmine—and a Minefield
Rich made millions with 78 secret oil shipments to apartheid South Africa, dodging UN sanctions. Exploiting gaps can be profitable, but the moral cost can haunt your legacy.

7. Your Vision Can Outlive You
Rich founded Glencore, now a commodities giant, even after selling his stake under pressure. One innovator can reshape an industry for generations. Build something that lasts, even if you’re not there to see it.

8. Philanthropy Doesn’t Erase the Past
While on the run, Rich donated $150 million to Israeli institutions. It shows you can do good with your wealth, but it won’t wipe the slate clean if your dealings are shady.

9. Crises Are Where Contrarians Thrive
During the 1973 OPEC embargo, when oil prices quadrupled, Rich bought low and sold high while others panicked. Chaos in this industry isn’t a dead end—it’s a chance to outsmart the crowd.

10. Relationships Can Be Your Lifeline—or Your Undoing
Rich’s pardon came after Israeli PM Ehud Barak lobbied for him, tied to alleged intelligence work. In oil, your network can save you, but it can also drag you into murky waters. Choose your allies wisely.

Parting Thoughts
Marc Rich’s story is a rollercoaster—part genius, part cautionary tale. He reshaped how we trade oil, but his methods left a trail of ethical questions we can’t ignore. In the oil patch, we’re always walking that fine line between innovation and integrity.

Thanks for reading this edition of the Oil Patch!

Stay oily, my friend…and BE GREAT.

— Adam Oxsen

Two quick requests before you go:

• If you found this useful, forward this email to a friend to spread the word. 👇

• Take 1 second to answer the poll below 👇👇

PS…

• How can I help? I offer 10-12% fixed-rate energy bonds for accredited investors.

• Connect on X or LinkedIn