Oil took the crown away from coal many years ago as the engine of economic growth. More portable and more versatile in the types of fuels that oil can produce.
The big problem with oil is increasing usage and diminishing supplies along with environmental impact.
Electricity isn't a magic solution but represents a common denominator that many different types of renewable energy sources can be converted into. I'm not sure what will take over from oil. It probably won't be one single source. But electric cars would allow us to produce energy from a variety of sources until we figure out the best way to create sustainable energy sufficient to power the globe.
The US has immense amounts of coal - we would clearly be better off financially if we were not paying so much to others, including our enemies, for energy.
My son bought a 2000 Jeep Cherokee 4x4 SUV last week. He paid $3200 for it. It is in great shape and will run for another 9 years no problem. When comparing the cost of a new vehicle of any type, it is not hard to see that gas burning vehicles will be with us for a very long time. He will probably burn 400 gallons of gas per year. It will take gas prices back in the $5/gallon plus range to get people to opt for something other than todays choices.
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