Correct me if I'm wrong but oil was close to 120$ a bbl when America started fracking. Business was booming with work pipeliners, roughnecks, truckers were getting payed decent which caused the housing market in these areas to increase. Also increased the economy of trucks, food, clothing, everything that is for a comfortable living. Then within 2 years it was fucked down to $35 a bbl, from the rumors that I heard is that we finally introduced ourselves to the market and Saudis flooded it with cheap product fully knowing the damage. People were layed off, trucks were repossessed, we struggled to keep our product at the adjusted value but fracking was no match with the already flooded market. So if the rumors I heard were true you can shut down a countries industry to make a measurable benefit towards your own. But taking ourselves of the oil titty is not a bad thing, you are absolutely correct when you say it is consumption and not production, I don't see it happening. People care about the environment but they don't care enough to change their lifestyle.