I don't think we appreciate the difficulties of a post-Peak-oil world. For the latter part of the past-decade Hubbert's theory was rubbished because of new supplies from fracking and tar-sands, but the basic hypothesis: that there is a finite supply of cheap oil remains. There is little doubt that this resource will run out soon, putting an end to cheap transport, cheap agri (fertilizers, mechanization), and pretty m…
Electric vehicle technology is ready to replace oil for all commuter and in-city use cases. Is it cheaper maybe not, but its not 10x more expensive. Maybe people will have to have an electric sedan instead of a $50k SUV. But people will make do.
According to https://www.eia.gov/energyexplained/oil-and-petroleum-produc... 66% of US oil usage goes to transportation. If we shift all short in-cities transportation to electric we can save oil for long haul trucks, trains, ships, planes, and industrial/agricultural uses.
As oil supplies dwindle the price will increase until most of the demand (transportation) is shifted to electric vehicles. Food and plastics might increase in price. But the average American will be able to continue their car heavy lifestyle by switching to electric.
I'm very optimistic on the future of solar and wind power. We may see average energy prices decrease significantly despite phasing out oil, coal and natural gas. But even if there are no further improvements in renewables I think electric vehicles will be good enough to avoid a peak oil crisis.