That's what we keep on hearing from the doom crowd, oil is running out, we better go back to 19th century horseless carriage, hard labor, agrarian living that supports an even thinner prosperous class in luxury.  Ridiculous.  The green technology, to replace oil; is here already, we just need to get it mass produced.

http://gristmill.grist.org/story/2008/3/28/122423/523#26

Plugging in trains and trucks
Both trains and trucks carry heavy loads, batteries and solid oxide fuel cell/turbine generators (70% efficient versus 14% for internal combustion) can ride along with less of a design problem than in cars.

Trains are already serial hybrid powered, a diesel generator powers electric motors, put a battery car behind the engine then all that electricity wasted as heat with downhill braking can recharge batteries.  Short stretches of track electrified can recharge batteries.

Semis are going hybrid too, Peterbilt has one.  Add batteries and induction pickup charge lanes on the freeway and renewable electricity can power them too.

But a whole new backup engine, in the form of solid oxide fuel cell/turbines, for (even) planes, trains, and automobiles is just waiting to be mass produced.  And quadruple mileage.

Battery energy density is getting better, theoretically it is possible to approach the energy density of liqiuid fuel.  And considering that battery power converts to motive force at 5 times the efficiency of liquid fuels in internal combustion engines, including aircarft turbines. That means batteries need only contain one fifth the power of liquid fuel to go the same number of miles.

Sure investment capital seems hard to scare up now that fossil fuel and oil wars have driven us into a recession, but this green energy revolution can still pull us out of this downturn.

The fed is "printing" electronic money to pull us out of disaster right now.  Backed by basically nothing.  And it's working.  Imagine if that play money was backed by resurging industry and lower energy costs?  Now that's a recipe for a real boom with real productivity increases.