ExxonMobil’s press release last night entitled “ExxonMobil to prioritize capital investments on high-value assets” begs the cynic to ask “what exactly would you say you were doing before?” Well, here is the history answer and it is not pretty. But, this is all looking backward, we will look forward directly in this note with a strategy suggestion. And by “what were you doing before?” we mean this is a twenty-year question. Brief conclusions: the $20bn