I get the impression that he doesn't mean oblivion in this song. I think he's talking about how homogenized cities have become in the past couple of decades; it's gotten to the point where towns are no longer distinct from each other, don't have anything that gives them a sense of place. It's a bit like "True Stories," looking at the world and seeing that it's all the same and the feeling of freedom he gets from never having to be anyhwere, ever. He's always "nowhere" or on his way there.
I get the impression that he doesn't mean oblivion in this song. I think he's talking about how homogenized cities have become in the past couple of decades; it's gotten to the point where towns are no longer distinct from each other, don't have anything that gives them a sense of place. It's a bit like "True Stories," looking at the world and seeing that it's all the same and the feeling of freedom he gets from never having to be anyhwere, ever. He's always "nowhere" or on his way there.
That's just one interpretation, mind.