Uber bear turned bull, Russell Clark, is not done with shorts. The famous hedge fund manager has a new bearish bet in the energy sector as he thinks shale legacy decline means some big declines ahead.
According to S&P Global PlattsRigData, the number of wells being drilled in the US has more than doubled, from 2,168 in the second quarter of 2016 to 4,433 for Q2 2017. Some analysts have argued that this shale resurgence shows clearly that the industry can survive with oil prices at or around $50 a barrel, proving that the oil market has well and truly entered a new normal.
However, these numbers are...
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