With the volatility of gas prices, doesn't it make sense to rely on many other fuels? The solution to the energy problem will have to be a combination of many different technologies. One of these new technology is the multi-fuel car. Volvo came out with a prototype car that runs on 5 different types of fuels: hythane (10 % hyrogen and 90% methane), biomethane, natural gas, bioethanol and petrol. In Brazil there is already a car that is being produced commercially that runs on different fuels. People buy what ever fuel is cheapest for that day.
The only problem that I foresee is the lack of non-petroleum fuel infrastructure. I would love to have a car like Volvo's prototype, but what good will it do me if I can only get one kind of fuel. It seems like a big task for the US to build such an infrastructure.
http://www.articlesbase.com/cars-articles/volvos-multifuel-car-run-on-5-different-fuels-97855.html