Another difficulty with high oil prices is it fuels inflation and causes investors to be very wary, not to mention it KILLS economic growth.
The sooner we get off the oil pot, the better, but we will not see it for a while as our infrastructure just cannot move fast enough, and changes are always difficult for a country, even if it is for the better. When it DOES happen though, those fuel cell companies will be the next darlings of Wall street, and oil stocks will survive but may lose their attractiveness. I say survive because like it or not, even without auto use, oil is needed in MANY products we use day to day.