<DrumBeat: March 17, 2008 The Oil Drum DrumBeat: March 18, 2008>

73 comments on Update on the Simmons-Tierney Bet

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thomas deplume on March 17, 2008 - 12:05pm Permalink | Subthread | Comments top

This is the dumbest structure for a bet I've ever seen. It is essentially two bets. One bet is the price of oil and the other is how many barrels a week's pay will buy. Come Jan 1, 2011 both parties could claim victory. The price of oil fails to reach $200 and Tierney claims victory while the amount that a week's paycheck can buy drops and Simmons claims victory.

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mcgowanmc on March 17, 2008 - 12:12pm Permalink | Subthread | Parent | Comments top

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Moe_Gamble on March 17, 2008 - 12:24pm Permalink | Subthread | Parent | Comments top

Absolutely right.

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Stuart Staniford on March 17, 2008 - 4:17pm Permalink | Subthread | Parent | Comments top

The actual bet was on the price of oil. Tierney just revealed something about what he would have been prepared to bet on, and I chose to illustrate that. Had Matt taken him up on those terms, that (hypothetical) bet would have been looking pretty bad to date.

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73 comments on Update on the Simmons-Tierney Bet

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