Oil being a finite resource, the current price reduction can only be temporary (unless our technological society has a meltdown). Here's a report posted to the Cariboo Chilcotin Conservation Society's Listserve:
From a report by Richard Case:
Portland is the first US city to have completed a Peak Oil Task Force Report. A short follow-up report is also available. The first recommendation is "Act Big Act Now", followed by: . . . foster a resilient, interconnected community, reduce fuel use by 50% in 25 years, expand local food production and processing, expand conservation programs, preserve farmland, develop contingency plans for fuel shortages, beef up social and economic support systems, among others. It also predicts that implementation of the recommendations will have an overall positive social and economic impact.
Many other cities now have peak oil initiatives with reports due soon including (San Francisco, Berkeley, Austin, Denver, Hamilton, Oakland, Burnaby; and Bellingham, and at least a dozen more (see….) I’m told that Portland has plans and projects to rip up some paved parking lots, sidewalks, curbs and gutters in favour of swales and more permeable surfaces to improve rainwater infiltration and aquifer recharge. Buses and trolleys in the downtown core are free.