Many people here have had different guess or opinions on where oil is going in the next few years. Some have looked to the United States as being indicative of global trends. Not a bad choice, since they consume about a quarter of global oil production.

Others have pointed to economies such as China and India. Again, a valid argument - although their national consumptions are much less than the US at the present time, they have been gaining at a very fast rate compared to the western world, so maybe it is important to pay attention to how much a global recession can slow their growth and compare that on a weighted average basis to US demand declines.

Anyway, this is slightly off-topic, but will give you some serious food for thought if you don't fully understand demographics of China and India versus the US. Nothing serious, but a very interesting quick video to watch:

http://www.youtube.com/watch?v=cL9Wu...