Matt Levine, Columnist

Private Markets Will Pump the Oil

Also FX markets, oracle update latency, index-provider regulation and a gas station fat finger.

June 16, 2022 at 4:25 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Programming note: Money Stuff will be off tomorrow and Monday, back on Tuesday.

Let’s say that you are a giant universal investor and you own 10% of every company in the world. The chief executive officer of one of your portfolio companies, a US oil and gas exploration and production business, calls you up and says “hey, oil prices are really high, I want to drill a bunch of wells and ramp up production to sell lots of oil at $120 a barrel, whaddaya think?” What do you think?