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Arnold: Half of US energy industry may go under

John Arnold, the legendary energy trader formerly of the hedge fund Centaurus Advisors, expects half of the U.S. energy industry to go bankrupt next year if the price of oil does not rebound.

Either way, bankruptcies among the industry will pick up as OPEC maintains production levels and as energy companies lose the ability to keep hedging against falling prices, he said.

Arnold first alluded to this prediction in a tweet Tuesday:

http://www.cnbc.com/2015/12/10/arnold-half-of-us-energy-industry-may-go-under.html