For those interested in the topic of peak oil, I suggest heading over to http://theoildrum.com/
Be prepared to spend a lot of time there if you are new to the subject!
Besides peak oil, they also discuss other resource peaks (coal, natural gas, etc) which are likely to affect us in our lifetime.
A lot of people are expecting oil to exceed $100/barrel in 2011 - primarily on growth in demand from China and India. Expect gas prices to steadily climb as a result.
Right now gas prices are at 2007 levels except that demand in the USA is down a significant amount. If the economy continues to slowly improve, expect gas prices to continue to climb. I highly suspect that high oil prices will put a damper on economic recovery.
During the oil price spike in 2008, I read an analysis that showed that demand for diesel fuel was the primary cause for high oil prices - foreign demand was so high that diesel was actually exported from the US - that just does not happen. This is reflected by the recent shift in diesel costs to exceed gasoline costs. Historically, diesel has always been less expensive, but since the oil price peak in 2008 diesel has been consistently more expensive.
Since EVs will primarily offset gasoline consumption at first, I don't think they will do much to help reduce oil prices. Hopefully Smith EV gains some additional steam with their EV trucks. If diesel prices remain high, expect to see more of a shift to rail which is a LOT more energy efficient than trucks. Apparently some of the issue with EV truck adoption is that it's hard to lease a truck, which is what most companies prefer to do as they aren't able to price the residual value. Hopefully they figure that out soon...