This is clearly false. Global oil demand continues to rise every year and forecasts for 2013 are for an increased rate growth in oil demand relative to 2012.
OK, we all know your viewpoint, but why lose credibility by posting blatantly false misinformation.
Propaganda! okay so its the good propaganda. The powers that be government, industrialists etc want to talk down or cool off the energy market. Remember we are an oil/energy driven economy and cheap oil is what is needed to prosper. Problem is that the resrt of the world is becoming more energy and oil dependant sitll far from advanced industiral economies but growing. Add to this one could well expect that decine in some massive oil fields is going to be covered up so as not to scare off the oil consumer. Peak oil is a fundamental that we cannot escape and shale oil is likely not all its talked up to be. Prefer yield oil investments since the short term can be weak, but longer term oil is going much higher. There is a good reason other than his own personal agenda that Mr. Pickens is recommending more use of nat. gas and that is oil is going to become more expensive again and again, but can be mitigated by use of nat gas as alternate fuel.
He likes to focus on one country whereas oil is a global commodity.
Demand is down in the US and Europe but is up globally and has been growing every year including during 2008-9.
That's why he will always be wrong in his forecasts because he focuses on one tree and doesn't even realize there is a forest.
In the past 5 years, the US has turned into a MAJOR oil producer. Oil production is MUCH higher now, than 5 years ago, but demand is turning weak as measured by crashing GDP and a build-up of oil inventories.