Imagine a world where there exists a perfect substitute for oil at $150 / barrel through some form of magical synthesis using renewable energy sources. Today,

Imagine a world where there exists a perfect substitute for oil at $150 / barrel through some form of magical synthesis using renewable energy sources. Today, that world would look almost identical, since oil has never been expensive enough to justify using such a hypothetical technology. But it would never look like the naiive "oil is a finite resource and must therefore always increase in price" world foretold by peak oil doomsayers.