Maybe in certain countries, but the big picture is that worldwide barrels&#x2F;per&#x2F;day consumption is continuing to increase:<p>2014: 92,086,000<p>2013: 91,243,000<p>2012: 89,846,000<p>2011: 88,974,000<p>2010: 87,864,000<p>Almost all that increase in consumption is attributable to Asia. Any downturn in the curve will be attributable to the economy of China slowing, not renewables taking the place of oil.<p>I don&#x27;t disagree that the consumption of renewables is growing rapidly, but that doesn&#x27;t mean they&#x27;re making a dent in oil consumption. They may down the road at some point, but right now they&#x27;re a spit in the ocean.