The government does not agree with you about demand:
http://www.eia.doe.gov/oiaf/ieo/oil.html
"In the IEO2006 reference case, world oil demand grows from 80 million barrels per day in 2003 to 98 million barrels per day in 2015 and 118 million barrels per day in 2030. Demand increases strongly despite world oil prices that are 35 percent higher in 2025 than in last year’s outlook. Much of the growth in oil consumption is projected for the nations of non-OECD Asia, where strong economic growth is expected. Non-OECD Asia (including China and India) accounts for 43 percent of the total increase in world oil use over the projection period. "
And the FAS:
"World Oil Demand and its Effect on Oil Prices"
http://www.fas.org/sgp/crs/misc/RL32530.pdf