Reuters reports:
"As a U.S. economic rebound stalls and threatens to spiral into recession, oil demand in the world’s top consumer may be slipping into an irreversible decline."
True of course, there is no competitive manufacturing base (apparently) in the US that can turn oil into stuff that sells well. But we have to ask "Sells well in return for what?" the answer is oil. What is used for production? Oil. What is earned by production? Oil. This is our modern economy, a game of who is to consume the oil, managed by the banks that control the money supply, money being the means to distribute oil. It is not the recession that reduces oil consumption, it is reduced oil supply that causes the recession.
Oil can of course is a placeholder for ‘any carbon based fossil fuels’ in this context. What actually causes the reduced supply is increased military dominance of China over the reserves. And then, this may be the best news ever, the only thing we need to recover is increased and abundand amounts of renewables. Pitted against the ‘one world currency’ camp we could imagine a global aliance that prevents obstruction of the rise of renewable based, industrialized or Roboeconomic societies.