First - Do you really see people cutting down on spending? I see $2000 TVs still going off the shelves and still plenty of wait time at the airport.
Second - The technology has been available for alternative energy for 50 years...why exactly is it that they have not been implemented? We have had the opportunity to become energy independent - Why do you think drilling will change that? I think there's fairly extensive drilling for natural gas already...I think the only place really being held up for drilling is AK.