Matt Simmons's oil price bet expires on Saturday...

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Adam Polczyk
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Joined: 27 Dec 2008, 13:48
Location: Cambridgeshire, England.

Matt Simmons's oil price bet expires on Saturday...

Post by Adam Polczyk »

Worthy of comment?

New York Times: Economic Optimism? Yes, I’ll Take That Bet
"The uncertainty of our times is no reason to be certain about hopelessness" - Vandana Shiva
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Adam Polczyk
Posts: 109
Joined: 27 Dec 2008, 13:48
Location: Cambridgeshire, England.

Post by Adam Polczyk »

I guess not.
"The uncertainty of our times is no reason to be certain about hopelessness" - Vandana Shiva
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UndercoverElephant
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Joined: 10 Mar 2008, 00:00
Location: UK

Post by UndercoverElephant »

Adam Polczyk wrote:I guess not.
Matt Simmons was wrong about the price of oil because he did not account for the banking meltdown and worldwide "demand destruction" which followed. In other words, he may have lost the bet but he didn't actually lose the argument.
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Adam Polczyk
Posts: 109
Joined: 27 Dec 2008, 13:48
Location: Cambridgeshire, England.

Post by Adam Polczyk »

Well put UndercoverElephant. Here is some more commentary by Steven R. Kopits.
"The uncertainty of our times is no reason to be certain about hopelessness" - Vandana Shiva
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