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...to say "bring on $5/gallon gasoline?" Or even $10/gallon?
By my way of thinking, yes, that will have a profound impact on the American way of life, and a substantial impact (in the short term) on the American economy.
But it will also serve as a major driver to move us from our deeply entrenched habits and inefficient and wasteful purchasing choices. The SUV's demise is already at hand (and not a moment too soon if you ask me!), many manufacturers are rushing to market with hybrids, plug-in hybrids, etc.
Then there are the consumer-oriented products like CFLs (and soon LEDs) for lighting, and there's increased research into wind, solar, and geothermal energy generation.
Given that the products of increased oil exploration will take as long (or longer) than simply bringing some of these new emerging technologies to market quickly, shouldn't the choice be obvious? Especially when you factor in the obvious consequences of drilling offshore and in ANWR?
