Someone wrote: "In which case the US will have to seriously reduce its appetite for gasoline and we will be happy that we did not waste money building those refineries you want."
Its not just the gasoline consumption but our consumption for everything. Medicine, plastic, packaging, and other commodities including clothing all come from a barrel of crude. Some products such as clothing can be produced from other means (cotton) but most is produced by sythenthic means.
The supply of oil and its use will never cease until the source is gone unless we learn to use alternative energy sources. We must change our daily living habits. We have to learn to reduce and recycle as much as possible.
Sarge