Not to mention the pseudo oil crisis as a lame excuse, since it'll probably only turn out to be a slight economical crisis for a specific layer of industry (petrochemicals, industries heavily reliant on internal combustion engine manufacturing etc). Even today, most likely more than 50 years before the fossil fuels are supposed to run out we have a fairly good idea what to do after that point.
One thing I can't understand though... why did they cheer?
