What will happen when to the US economy when the world's resources of oil and gas finally deplete?

And is the economy likely to bounce back from it?





Just out of interest, cheers!What will happen when to the US economy when the world's resources of oil and gas finally deplete?
All western economies must eventually face this at some point in the future.Some earlier and more comprehensively than others.The good news is that much ingenuity has already been applied to anticipating the day and developing alternatives.





If all the oil ran out tomorrow everyone would be in obvious trouble.Almost everything we do now would come to a grinding halt or at least a slow crawl within weeks.All of a sudden horses would become an extremely profitable business to be in and beasts of burden generally would be back in fashion on the High Street.





The serious answer to the Q is that it depends on the success or otherwise of efforts to find replacements for oil and other fossil fuels and also whether alternative technologies can be found to replace the internal combustion engine specifically and fossil fuels as our main energy source.





If for instance viable renewable bio-fuels can eventually be developed on a large scale cost effectively then the age of the car and all that flows from that may well continue on into the next century and beyond.Even long range air travel could continue if planes can be made to run on it.





If this cannot be done then maybe the combustion engine can be replaced with electric motors.This also means that economy carries on as now (except for aviation ha ha) What about airships ?





If none of that happens then there will still be an economy but who can say how different it will be.There are alternatives to us all going back to the middle ages and I for one don't believe we will ever have to regress that far.What will happen when to the US economy when the world's resources of oil and gas finally deplete?
By the time that happens, the world will have transitioned to the next generation fuel source and changed behaviors to reduce dependence on oil.





This transition is already occuring. People are buying more hybrids and fewer SUVs, public transportation is being utilized more, new technologies that increase efficiency of fuel consumption or use different fuels are becoming more prevalent, etc.
People will finally be forced into being more energy efficient and responsible because they will have no alternative but to do so.
IT wont some beginning comes from some others end .