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The action in this new novel takes place a few years after his adventures in Castigo Cay, the first Dan Kilmer novel. In The Red Cliffs of Zerhoun, Dan's trading schooner is located in Southwest Ireland, where he is attempting to sell 96 drums of diesel fuel salvaged from an abandoned NATO base in Greenland. The global financial system has collapsed, and both paper and digital currency have no value, but diesel fuel and gold still do.

While still in his twenties, Dan inherited the schooner Rebel Yell. Soon after, he left the United States to embark on a series of voyages, mostly in pursuit of beautiful women and good times. While he was away from America, new federal taxes were imposed on luxury property, including privately owned yachts. Dan cannot pay these or other new taxes, so he can't return to the States without risking confiscation of his schooner. Instead he must always fly under official radar and earn a living by his wits while staying one step ahead of the IRS and other government agencies.