He described the increase in oil prices this year as “the biggest cat catastrophe in history.”
Despite a 33 percent increase in S&P energy output this year, Jumpeel, which manages the HITE Carbon Offshore Fund, which aims to make a profit from decarbonation, has run out of oil.
The $ 1872 million Fence Fund will be a loser in the energy value of the oil industry, such as producers, exporters, markets, processors and consumers in the carbon value chain, says Jumpeel. Oil, natural gas and coal.
“Industries that are shrinking, declining in demand have a hard time making a lot of money,” Jampel said in an interview published Friday.
According to the Fence Fund Manager, energy transfer will accelerate from here and will not save oil by simply upgrading technologies for alternative energy sources.
Despite its fuel shortages, Jempel is short on renewable energy and renewable resources.
“The reason we don’t do that is because that kind of fund is so far away, so volatile,” the tree fund manager told Bloomberg.
The Jumper Fence Fund is betting that the market is bigger than it used to be.
As oil demand began to recover this year and oil prices rebounded, large amounts of energy were sent to the United States. Last week, the Energy Sector SPDR ETF (NYSEARCA: XLE) looked at the fourth largest US currency at $ 1 billion.
Shares of many oil companies in the United States have offered more than 100 percent returns this year. The top five returnee Antero Resources Corporation was 206.6% annual share, Range Resources Corporation at 182.8%, Continental Resources at 157.5%, Magnolia Oil and Gas Corporation at 136.7%, and PDC Energy at 114.6. %.
By Tsvetana Paraskova for Oilprice.com
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