Yep oil is expensive and getting it out of the ground is causing environmental damage. But I still haven't seen any realistic plans to get us out of our carbon burning lifestyle. First off, government can't underwrite the expense, we're 15 trillion in debt and adding a trillion a year. You can say future economic growth based on alternative fuel will help our debt problem, but first that's a leap of faith to assume that growth will be there, and it will take too long to happen if in fact it does happen, we have to tackle our debt and spending problems NOW before we can even make any plans to spend who knows how much to convert us to a greener energy lifestyle.
And you can't ignore the fact that any carbon based fuels that we save here will be used by the developing world instead of us. We're in a global economy, the Chinese are eating our lunch and will continue to do so, they're more than happy to burn oil and coal even at the higher prices we're now seeing.
And don't forget oil is priced in dollars, part of the price increase in oil is due to a weaker dollar, weaker because of our debt and spending problems.