Honda will start selling hydrogen cell powered cars.
I'm not sure how much it will cost to fill a hydrogen tank, but it'll be way cheaper than gas.
The by-product of combining hydrogen and oxygen, is water. Thus there will be zero emissions from these cars.
They're going on the market for like $100,000 with lease options at $600 / mo.
My gas is now close to $300 / mo. While I own my vehicle outright and have no car payment, I might have had a $200 / mo payment otherwise (My SeaDoo was $216 before that was paid).
So if hydrogen fill ups are negligible in cost, $600 / month is not bad.
The car goes 240 miles on one hydrogen fill-up. It's about 120 miles from San Diego to Los Angeles, so that's a round-trip on one full tank (and I don't drive that much at all).
I think in the next 5-10 years, we're going to see gasoline powered vehicles go the way of the dinosaur.
Prices will come down as economies of scale enter into the picture. SUVs, Hummers, etc. that are powered by battery, hydrogen, hybrid combos, whatever, will make a comeback as people will still feel safer or "superior" in large vehicles. They'll just be fueled differently.
I think the whole argument for more drilling and refining of oil will be moot.
But the re-alignment in our economy from gasoline will cause a period of uncertainty.
I'm not sure how the airlines are going to cope. The big push right now is with personal automobiles, and then naturally, the trucking industry will follow. I don't know how air travel will re-align. However, because of fuel costs, many companies are moth-balling some of their planes. If things change in good time for them, they might be able to re-invest by purchasing new fuel-technology planes. Then air travel could resume as normal (well as normal as it gets post-9-11).