“The Economics of IMO 2020” appeared in the December 2018 / January 2019 edition of Tank Storage Magazine www.tankstoragemag.com. In this article, Charles Kemp estimates the possible fuel savings for ships with scrubbers and an economic scenario of running U.S. light shale oil (e.g. Permian and Eagle Ford) in European refineries after new sulfur regulations are implemented next year. Low complexity European refineries will benefit from displacing traditional high sulfur crude, i.e. Urals, with low sulfur crudes such as WTI.