Experts look for the floor on oil prices

An oil economist who accurately predicted two years ago that oil would reach $70 a barrel has reversed course, saying recent steep declines could foreshadow a sell-off to $20 or less.
“Nobody in the government sector who thinks about policy thinks it can happen. That’s the greatest danger,” said Philip Verleger, an independent economist who heads PK Verleger in Aspen, Colo.