Here's a pithy quote from Sheikh Yamani, former head of OPEC for 25 years, about the the prospect of running out of oil.
The market, that awful, corrupting, discriminating, resource-misallocating instrument of economic injustice that rewards oil companies and punishes the helpless consumer, is steadily guiding us to where we need to be — producing step gains in energy efficiency, shifting more investment towards alternative energy sources, and reducing dependency on a commodity that skews foreign policy priorities.
Foreseeing this epoch-making change that would be engineered by market forces, Sheikh Yamani, once the global icon of the energy business, is supposed to have said some years back: "The Stone Age didn’t end because we ran out of stone. And the oil age won’t end because we run out of oil."
Americans need to quit whining about the price of oil and focus on developing alternative energy storage technologies.