Oil's energy contribution has declined by about 12% since 1999. The world's economies have also declined by about 12%. (Using conventional metrics, which are time delayed determinations, this will only be seen in hind sight). The massive destruction of asset values now occurring testifies to it happening.
Peak is well behind us, world economies have peaked and will continue to decline.
Wow!! If terrorist really wanted to put the hurt on us, they would not have to attack the USA. All they would have to hit is a "softer" target in any oil producing country.
With the economy in shambles, now would be the perfect time.
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