The oil industry is in a terminal decline, hedge fund manager James Jampel told Bloomberg on Friday, noting that this year’s rise in oil stocks has been “the biggest dead-cat bounce in history.” Jampel, who manages the HITE Carbon Offset hedge fund that aims to profit from decarbonization by “shorting decarbonization losers”, is extremely bearish on oil, despite the 33-percent rise of the S&P’s energy index this year. The oil industry will be the loser of the energy transition, says Jampel, whose $187-million hedge fund is focused on shorting the most overvalued and vulnerable stocks in the carbon value chain, such as producers, transporters, marketers, processors, and users of oil, natural gas, and coal. “Industries where volume is declining, where demand is declining, have a lot of trouble making money,” Jampel told Bloomberg in an interview published on Friday. According to the hedge fund manager, nothing can save oil […]