If he's right, the players who hedged or bought all those out-of-the-money XLE and USO puts on June 23 could bank some fiat $$. (Read: August $USO, $XLE Put Options Active). $DUG will also perform well if oil continues to fall (UltraShort Oil & Gas $DUG Testing $20 Resistance July 6).
This is also a must read: Verlerger on Oil Glut: "There has never been anything like it", Sees it at $20/barrel (Naked Capitalism)
