Skip to main content

Posts

Showing posts with the label Rex Tillerson

I've suddenly become interested in the Brian Hunter timeline again

  Brian Hunter, as some of you may remember, was a trader in natural gas and oil for an investment firm named Amaranth.  Due to certain reckless Hunter trades, Amaranth melted down in 2005-06, and caused a good deal of volatility in the oil and gas derivatives markets in the process.  Why am I interested in this? I covered it at the time, as a reporter for Reuters, but it was one of many things I covered back in the day and I'm sure I've forgotten many of them.  One reason that this is on my mind is the coincidental significance of the year 2006 in a very different corner of the oil and gas world, the executive suites of Exxon-Mobil. That was the year one Rex Tillerson, a future Secretary of State, became the CEO of that company.  The two companies, Amaranth, and Exxon-Mobil, have almost nothing in common except that they both have or had something to do with oil and gas. But Exxon is a vertically integrated firm that pumps the stuff out of the ground, provides ...