In 2005, New York Times columnist John Tierney and Houston investment banker Matt Simmons made a bet on the average price of oil for 2010, to be settled today, January 1, 2011.
Simmons died in August, 2010, but by that time it was reasonably certain that he was on the losing end of his bet with Tierney. Simmons had wagered that the average price of crude oil for 2010 would be above $200, measured in 2005 dollars.
The average oil price in 2010 was around $80 per barrel, or $71 adjusted to 2005. When they made the bet, the price was $65.
The series record stands at Free Market 78, Rev. Malthus 0.
Source: http://www.redstate.com/vladimir/2011/01/01/settling-accounts-on-peak-oil/
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