Not my prediction, but Merrill Lynch’s. Who knows whether it will be correct or not, but it lends support to my post on ExxonMobil’s wisdom in operating as if oil is $20 per barrel.
If they had gone wild and operated as if oil was always going to be $100+ per barrel, they would have to lay off tens of thousands of employees, threaten bankruptcy and get queued up behind the American car companies pleading the government for a bailout.
