Legendary Crude Trader Bets Crude to $150

scott

...within 5 years.

http://www.bloomberg.com/news/2014-09-03/trader-who-scored-100-million-payday-bets-shale-is-dud.html

"Hall is going all in on a bet that the shale-oil boom will play out far sooner than many analysts expect, resulting in a steady increase in prices to as much as $150 a barrel in five years or less.

Investing ever-larger sums of his own money, he’s buying contracts for so-called long-dated oil, to be delivered as far out as 2019, according to interviews with two dozen current and former employees and advisers who are familiar with Hall’s trading but aren’t authorized to speak on the record. To attract buyers, the sellers of these long-dated contracts -- typically shale companies that have financed the boom with mounds of debt -- need to offer them at a discount to existing prices."

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If he's right it wouldn't entirely surprise me.

Old_Joe

"If he's right it wouldn't entirely surprise me." Same here.

JohnChisum

So much for tame inflation if that were to happen.

rjb112

Very interesting article.
I sure wouldn't bet on a sustained low oil price.