“Fatih Birol, chief economist with the International Energy Agency, has said, “We should leave oil
before it leaves us.” I agree. If we can phase out the use of oil quickly enough to stabilize climate, it will also facilitate an orderly, managed transition to a carbon-free renewable energy economy. Otherwise we face intensifying competition among countries for dwindling oil supplies and continued vulnerability to soaring oil prices. And with our recently developed capacity to convert
grain into oil (that is, ethanol), the price of grain is now tied to that of oil. Rising oil prices mean rising food prices.”

http://www.earth-policy.org/images/uploads/book_files/wotebook.pdf