Oil at 60

Just heard a great point on CNBC. Unfortunately, I don't know who made the comment but this was the gist of it...

We are arguably in the worst recession since WWII and oil is still trading at 60 dollars a barrel. I have a hard time seeing demand for oil lower than it is right now again in my lifetime. It just shows how susceptible we are to huge swings in oil pricing if supply were cut or we entered a geo political controversy.