Will the current oil crisis spark a leap ahead in alternative to oil dependence?

Question

It seems that historically dislocations in economic culture spark either collapse and decline or expansion and renewal. I see, from a historical perspective, that we are at such a crossroad.

Will this be the beginning of the end for petroleum?

Will this be the beginning of decline for the US?

Answer 1

The ball is in the US's court. We could react to this crisis by leaping ahead and jumping into alternative fuels full force. That would be what we would do if we were lead by wise leaders. Unfortunately the US is driven by corporate greed.  The reactions of someone driven by greed are predictable. They act only to fill their pockets with money at the expense of others. An example of this are the actions of oil speculators and futures speculators. Both of who drove the prices of oil and food to an all time high. The reason they did this was to make money for themselves despite the economic hardship of others. Considering this, I would say that the US is a sinking ship. We are being driven off a cliff by greedy corporate types who will not change even in the face of their own destruction which blinded by selfishness they cannot see.

Answer 2

There will be an increase in the research for alternative fuels, but don't expect anything major for at least 10 years.  Smaller increments each year.