The oil industry is in a terminal decline, hedge fund manager James Jampel told Bloomberg on Friday, noting that this year’s rise in oil stocks has been “the biggest dead-cat bounce in history.” Jampel, who manages the HITE Carbon Offset hedge fund that aims to profit from decarbonization by “shorting decarbonization losers”, is extremely bearish on oil, despite the 33-percent rise of the S&P’s energy index this year.
The oil industry will be the loser of the energy transition, says Jampel, whose $187-million…Bearish Hedge Fund Manager: ‘Nothing Can Save Oil’
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