Everything is going well. Oil and wheat production increase directly in line with world population. The price of oil is cyclical - see it hit the same highs in the early 70's.
Now its true that oil discovery peaked in the 70's and the price of wheat, far from cyclical, has plummeted to 25% of its 1960 price. But look its clear from what the President is saying that oil is a very long term threat, like global warming, that our generation must make long term plans for
We have been talking about energy for decades. But there is no longer a disagreement over whether our dependence on foreign oil is endangering our security. It is. There is no longer a debate about whether carbon pollution is placing our planet in jeopardy. It’s happening. And there is no longer a question about whether the jobs and industries of the 21st century will be centered around clean, renewable energy.
Plus the house just passed a climate bill that achieves oil dependence in time for my 100th birthday.