Actually, using up all the cheap petroleum is the way to go. Once cheap oil is removed the price will drastically stabilize. And what makes it better is that the worlds arid regions will be at our mercy, since they do not produce enough hydrocarbons to convert!Remember, Petroleum IS the renewable energy source!!
If you haven't noticed at $75/bbl it ain't so cheap these days, and if we use more it will also be more expensive.
The key point in my post was the absence of any discussion of nuclear power options.