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In 2006, Matthew Simmons and John Tierney made a bet on the average price of oil in 2010.
Their final agreement was a commitment to tabulate every closing price-per-barrel of oil for each market day of 2010, then average out those prices for the entire year from January 1 through December 31, adjusted for inflation to 2005 prices. If the year-end adjusted average comes out to $200.00 or more per barrel, Mr. Simmons wins. If it averages out to less than $200.00, Mr. Tierney wins. The winner takes the entire pot of US$10,000.00, plus interest–$5,000.00 from both parties, currently sitting in escrow.
The Oil Drum had some coverage on the bet in 2008.
Obviously with the current state of the world economy oil prices will not even rise above $100 for even one day in 2010. Simmons will lose big and Tierney will win.
If China sees a large rise in oil demand over the next few years, then eventually a significant rise in oil prices is likely from demand increase and inability of supply to increase to match.
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He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.