Shale boom likely to be temporary, says successful oil trader.

FT: ” The oil trader known by rivals as “God” predicts the US shale revolution will only “temporarily” boost production and oil prices will remain high, siding with Saudi Arabia and the Opec cartel in a debate gripping the energy market.” “Andy Hall, whose lucrative bets on oil prices earned him a $100m salary at Citigroup in the 2000s, told investors that the rapid decline in output suffered by shale wells is “likely [to] mean that the bounty afforded by shale resources is temporary”. …“We read almost daily of new oil discoveries and perhaps this leads to complacency among the lay public,” he added. Mr Hall also revealed a bullish bet on Brent December 2015 oil futures, currently trading at $94.60. “We continue to hold our longer dated [oil] position with conviction,” he said.