We've been here before, too, except before it was food shortages and 100s of millions dying that were being predicted in alarmist tones:

http://en.wikipedia.org/wiki/The_Population_Bomb

And the solution, which apparently now sustains one third of the world's population:

http://en.wikipedia.org/wiki/Haber_process

My prediction, is that like before, science will solve the problem and this will all disappear into the memory. Man's capacity to wipe itself out is far outpaced by it's ingenuity to sustain itself.

Then: Cold War, oil shocks

Now: Terrorism, oil shocks

History always repeats itself.

Definately. We've had commercial electric cars since 1897 and commercial nuclear power plants since 1956.