Reply #8: Gasoline will never be $1.50 again

[NickB79]

This summer it will likely peak over $3, and within a year or two hit $4/gallon, IMO.

The benefit of electricity is that we can produce it from a myriad of sources. Wind, solar, nuclear, etc. In contrast, we must drill for oil to produce gasoline, and easily-accessible oil reserves are becoming smaller and harder to find.

If it were most efficient to drive cars on whale oil, would you argue we should be using whale oil? Of course not, because that is an energy source that can't meet demand. As Peak Oil sets in, petroleum producers will no longer be able to meet demand either. Without an alternative to oil, we're screwed.