Bloomberg: Oil Crash Wipes $11.7 Billion From Buyout Firms’ Holdings

According to the big boys, what went down is certain to go up, underlying the issue that oil and gas will be forever volatile energy sources.

From Bloomberg, Dec 22, 2014, 12:00:01 AM

Shale oil production in North Dakota, U.S. Photographer: Daniel Acker/Bloomberg

Oil's plunge makes energy a great investment for the coming years, according to Blackstone Group LP (BX)'s Stephen Schwarzman and Carlyle (CG) Group LP's David Rubenstein. For private equity firms, it's also been painful.

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