End of oil will mean end of trucks and cars. Railway locomotives, currently using diesel fuel, are already more efficient than trucks. But if even that is not enough, they can always go back to coal (and steam.) There is enough coal in the country. While these steamers won't be able to pull as much as modern engines do, they will keep cities supplied with food - and there will be plenty of demand for that, on "name your price" basis.
I think another part of the story is buffet is bo’s buddy and “has his ear” and is expecting stimulus money.
http://www.businessinsider.com/duh-warren-buffett-is-betting-on-lots-more-stimulus-2009-11
There’s another aspect which would kill trucking and favor rail, and that’s diesel emissions regs.
There’s far fewer locomotives that would have to retrofitted vs. the number of engines in the trucking industry. The payback for the rails’ expenditure on new diesels is much faster than for a trucker; remember, the rails can run a train non-stop. The only way a trucker can is to have two drivers in the cab - and even now, the Congress has been talking of regs that would make even a team setup have to sit still for four hours a day.
Going to coal/steam for the rails really isn’t an option. You need to see just what is involved in maintaining and operating a steam engine to appreciate what a HUGE cost reduction (not to mention safety improvement) it was for the rails going to diesels. High pressure steam is nothing to trifle with. I’d foresee the rails going electric before they’d go back to steam.