There isn't anything that is as efficient as fossil fuels and as long as they are inexpensive and plentiful, they should be developed and used...damn, I haven't heard the words peak and oil together for a long, long time.
Burning gasoline to power a car wastes 75% of the energy in the fuel as waste heat. Even if oil weren't subsidized, driving on battery power is 1/2 to 1/3 as costly. Electricity can be generated way more efficiently from fossil fuels, and when it can be generated from the sun, the energy is free!
