Dear 2062: Don't blame it all on 2012. Yeh, we are on a spending binge on someone elses money, but there are many 10 year periods between now and you to get it right. First, let's drill. My understanding is the US has about 120 years worth of oil in the ground. So somewhere in here when oil available is no more, surely there will be political pressure to drill, baby, drill. Also when electricity starts to be rationed, surely someone will have the presence to find coal again, as well as nuclear power. Finally, default on the national debt. Tell those who buy US bonds that they were stupid, and we are wiping that debt away. But you say, that will destroy our credit rating - I say great! No more borrowing.