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Monday, June 17, 2013

Prominent Oil Trader Sees Short Lifespan for Shale Boom

From MarketWatch:
An oil trader known to competitors as “God” has predicted the U.S. shale boom’s days are numbered, according to a news story in the Financial Times. 
The U.S. shale revolution will only boost output temporarily and oil prices will remain high, said Andy Hall, who runs the $4.5 million Astenbeck Capital Management hedge fund and the Phibro LLC commodity trading house. 
Hall told his investors that while shale wells are initially prolific, their production declines fast because “each well only taps a single pool of rock-trapped oil, rather than an entire reservoir,” the FT said.
Read the rest of the story here.

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