Renewable energy will not plug the energy deficit which is gaining momentum. The net result for consumers is higher gas prices in the not too distant future. Perhaps Barack Obama would prefer a return to the horse and cart. Obama is on record as supporting higher oil and gas prices. Looks like he will be true to his word.
Russia, India and China intend to push ahead with economic development underpinned by a strong attachment to oil. Such countries are obviously not too concerned with the possible environmental consequences. The US economy will stagnate.