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Slugcatcher on the money side of the unconventional oil and gas boom

IT IS never wise to bet against the US, partly because the country controls the world's unofficial reserve currency but also because, as <i>Slugcatcher</i> has observed, it has a habit of successfully reinventing itself time-after-time &ndash; a fact oil speculators are discovering.

Over the past few weeks the latest act of US reinvention has cost several commodity-trading funds a fortune thanks to bets they placed on either the US oil price (West Texas Intermediate) rising, or the...

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