I don't. Its true there are more vehicles on the road than ever. Based on that it would seem that demand would have to be on the rise however progressively improving mpg's over the past 30 years..combined with switches to alternative fuels such as nat gas, flex fuels, electric cars, etc etc have mitigated demand.
Barring some huge unforeseen geo-political event I personally don't see the hay days of $100 oil ever returning. I think we're looking at the top end for the foreseeable future in the mid-$50 range.
Fracking changed everything. The US is no longer a hostage to the Saudi's.
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