Can’t argue with a word of that.
Main thing I’d add is that while solutions will be developed, and cost will be the motivator, the transition will be a lot more difficult for the citizens of those countries that don’t plan for a world where oil is suddenly a lot more costly than it is now. The European countries have already done a lot of prep by artificially pricing gasoline much more highly than we do via taxation, and having much better intra- and inter-city rail transit than we do.
Here, it would be nice if we were already building subway lines like crazy, and connecting nearby cities with high-speed trains, so that when the price of gasoline and jet fuel both go through the roof, people can relatively painlessly substitute trains for most of their car trips and at least some of their air travel. But instead we’ll have a lag time of a decade or so while we’re building the infrastructure for people to use instead of suddenly-too-expensive cars. It’s gonna be a hard time for a lot of people.