Bull and shit. You cannot logistically convert this nation over to an alternative energy source in 1 year, let alone realize any damn savings. This is particularly obvious when you realize that NONE of the alternatives equal the efficiency and energy density of oil, particularly gasoline.
I don't agree. We could do it; all it takes is the will and determination to do so. Which is why, when the topic comes up, I recommend that we stop all development of new weapons systems but still continue with the research. Because we don't need to mass produce fighter jets 3 generations ahead of what the other guys have (yet) because their designs are likely ones that they copied from us anyway.
We need catalyst for the determination and outside of a real and palpable threat to our national security, it isn't coming. You're right about the savings short-term though. There will be none.
However, it is foolish to think that if everybody started getting 40-60 mph from their cars, that we would use as much oil. That is pretty easy to see that we would use much less.
TM is off the mark when it talks about saving heating costs. Very small percentage of your electrical power comes from oil fired power plants. Coal is the source of that power more or less.