OPEC can suck it.
Seriously... We'll drill elsewhere, or someone else will pick up the slack, or investment in alternative fuel will be more 'attractive' to the private sector...
They'll just 'accelerate' the evolution of our energy policy. As long as we are flexable and stay true to our free market and entrepreneurial systems and keep gov't out of the way... we'll be fine.
what energy policy, we don't have one. who is going to develop these "alternate energy sources"? unless it comes from government via another "Manhattan Project", there isn't enough of a source of capital for any significant effort from the private sector. We need major technological breakthroughs. We should have had a balanced increase in the CAFE standards over the last 20 years, 2MPG every 5 years, to force the auto makers to invest in R&D to improve auto mileage. We couldn't even do that.