Good piece by Anatole Kaletsky (Chief Economist and Co-Chairman of Gavekal Dragonomics and Chairman of the Institute for New Economic Thinking).
Even if his prediction of $20-$50 goes false, one can always apply micro concepts (and game theory) on oil industry as he has done:
Having fallen from $100 to $50, the oil price is now hovering at exactly this critical level. So should we expect $50 to be the floor or the ceiling of the new trading range for oil?
Most analysts still see $50 as a floor – or even a springboard, because positioning in the futures market suggests expectations of a fairly quick rebound to $70 or $80. But economics and history suggest that today’s price should be viewed as a probable ceiling for a much lower trading range, which may stretch all the way down toward $20.
To see why, first consider the ideological irony at…
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Utopia, you are standing in it! 
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