And I don't doubt that if the price hits $15/gallon that more people will buy more efficient vehicles and/or use more mass transit. But gas will not cost $100,000/gallon. I am doubtful it will reach $15/gallon (in the U.S.) simply because such high prices will drive the majority of consumers to other alternatives and the reduced demand will put a cap on the price of oil.

Like I said, this could easily be a blessing in disguise. It will lead to more people adopting more fuel-efficient vehicles, more use of mass transit (my wife and I are considering whether to buy a second car or whether my wife might just get to work by bus), and a full-speed rush to nuclear power.

The end of oil is not the end of the world. It's just the end of oil. We already have the technology to use alternative energies, primarily hydrogen fuel cells produced by nuclear power. We just haven't had a financial reason to make that move. Perhaps now we do.

Regards,
Craig Steiner