It is quite possible that the future is that we use less oil and pay more for the oil we do use. The rest of the world outside the US and it does exist is going to continue to use more energy going forward. Short term everyone is expecting the fiscal cliff to be a shock to the system, but once we get over it oil demand is likely going to be increasing again.
If the Thorium reactors ever get built in large quantity all over the world and the electric battery gets fixed, (performance and price) then oil for transportation and generation demand will naturally plummet.
Thorium is thousand times more common place than uranium and the fuel cycle safer.
pretty true. America is 1st world, but India and China are not. They claim to be, but they are not, because they have people working for a few dollars a day. Both are easily 3X time size of America, and their middle class is growing. Middle class want to rise above the peasants in cars and through taking vacations. All of this creates demand. I am glad I punched out of oil yesterday, it just looked toppy to me. So I will buy back in when it goes to 31.50.