I agree. The industry needs $60 per barrel to break even. Fuel efficient cars, fuel efficient lighting, solar power, wind power etc will lower demand for oil -- which is a good thing. Also, technologies for getting oil out of the ground keep improving, which boost "retrievable" reserves. Fossil Fuels going the out like whale oil for lighting,
Obama is a front man for the Plutocracy that runs the USA and wants full control of the Whole World. That Plutocracy want a return to Feudalism. A strong middle class is an obstacle. Uneducated people who are barely making ends meet are easier to control. Obama is a continuation of Bush Jr. Both Clintons front for the Plutocracy. The Clintons are now uber rich and members of the Plutocracy. The Bushs are long-time members of the Plutocracy. Obama will likely be richly rewarded for his service and become an uber rich member of the Plutocracy after he leaves office. The trend is bad. We have a choice: Go Bernie! and Go Alan Grayson!