I'm sure there is a better article, but still good nonetheless. Essentially states thatwas long DOM/Eastern nat gas basis that went from -.30 to -1.30 cents. This caused a 100mm loss. This is a great example of the volatile nature of the energy markets and how one way bets like this can really blow up in someone's face. The amount of size you have to have to lose that type of coin is significant.
I hear this is also what caused Vitol to lose a lot of $$ on a similar position, although i heard theirs was back-end of the curve dom south. I'm sure this caused a few people to get let go. I'm not sure if this was all one trader, although most likely was one traders book as I can't see how many east gas traders GS has. I've heard of guys getting let go for much much less of a loss than this.