Only 3% of the electricity in the U.S. comes from oil. And personally that percentage is too high. The U.S. has the largest reserves of Coal, and the 2nd largest reserves of Natural gas in the world. That right there is important. Especially because new coal filtering and purification techniques can make coal surprisingly clean. And natural gas is naturally very clean burning.
Electricity is the key, because energy from Coal, Natural Gas, Nuclear, hydroelectric, solar, and wind can be converted into it. Oil technology for transportation is not obsolete, there definitely is a need for it. I don't expect anyone to power a tractor-trailer truck with an electric motor. And motorcycles can get upwards of 80 miles to the gallon.
And heres the big BUT. Think about this... if we rapidly increase the production of more oil in the coming years, and in fact, gas prices drop down to $3 a gallon (for example)... what incentive does anyone have to switch fuel sources???
I actually do favor some increased, but limited drilling in ANWR. But don't forget this either. Part of the reason for rapid gas price increase, is because of the destruction of off shore rigs in the Gulf of Mexico during hurricanes Katrina and Rita. These need to be rebuilt too. The main reasons why I favor this are:
1) Our country already exports far more dollars than we import. Thus part of the reason why inflation and the economy is so terrible.
2) There is going to be a transition period to alternative energy sources. But like I said before. The price needs to remain fairly high in order to give people incentive to switch over. Because lets face it. Americans are far to stubborn and self-centered to switch to a different fuel source simply for the greater good of the country, if the price of the alternative energy is the same as the current one.
The life span on most cars is about 12 years. There are very few cars on the road today built before 1995. And most people will buy/lease a new vehicle every 5-8 years. Realistically we could see the vast majority of the population driving Electric and Natural gas vehicles in about 15 years.
So... what can you do today?
Well for one, start conserving energy. The country has taken a great step forward so far, with the whole '"green" focus. By energy friendly lighting, and appliances for your home. Turn the lights off when you aren't in a room. My grandfather just built a new home, with all low-E light bulbs, installed motion sensors instead of light switches in some rooms, a tank-less water heater, and new low-E insulation and windows. The house is estimated to have 44% less energy costs than similar homes of it's size. Imagine that is years to come, if everyone switched over to technology like this, how low every costs would be.
Also I mentioned in a previous post, push and lobby for increased local and regional mass transit systems. The more efficient we are at moving people and goods, the cheaper the cost will be.