Oil Hedge Fund Manager Says $300 Oil ‘Not Impossible’
- Andurand says on Twitter lack of investment risks price spike
- Higher prices aren’t a threat to the economy, Andurand says
$70 Per Barrel Target 'More Realistic' for Oil Price, Says Schork
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Pierre Andurand, one of oil’s most prominent hedge fund managers, said the current reluctance of energy companies to invest in new production meant $300 a barrel was "not impossible" within a few years.
Andurand, who’s often espoused bullish views, said in a series of tweets on Sunday that concern about the impact of electric vehicles on future demand was limiting investment in projects with long lead times.