Now, as far as running out of oil goes, I don't think it'll happen anytime soon, or prices would go up since there would be a diminishing supply, and usage would drop.
That, sadly, would require some link between 10- to 20-year forethought and today's oil pricing
Good point.
Advocating the guzzling of gas because it's affordable ("I can so I will") seems no different from advocating that the largest kid in the school can beat up the others because Nature has afforded him the strength to do so, or that the largest military power in the world can beat up the others because Manifest Destiny has given it the strength to do so.
Yeah, but beating up a kid or invading a country is going to hurt someone. Hurting someone just because you can or just for fun is wrong. Puchasing a commodity, like oil, is a little different. Our technology and wealth of our economy would be a little weaker if that millionaire hadn't invented that new product or provided that service or whatever for the consumers. So when he wants to burn a few barrels of oil, I'd say he deserves it.
But I guess it's more of I haven't been convinced that there is an urgent shortage of oil. Some people say we're gonna run out any day now and some say we've only used up 15%, but I don't think anyone really knows for sure. If I was a millionaire and it was apparent that there wasn't much oil left, and that oil was needed for more important things than yachts, then I'd think it would be right to curb my usage for the sake of everyone. It would be like if your town was short on electrical power and there were blackouts, then it would only make sense to not waste energy. But the way things look here right now, if there's no shortage of electricity and no shortage of cash (I wish), you might as well play the x-box and empeg and computer all day long.
Corporations have billions of dollars invested in oil-dependant machines, automobiles, planes, etc. When they start getting worried, I'll start getting worried. Combine that with the fact that there are fuels other than oil, and I am not very concerned. If we did suddenly run out in the next couple decades, I could see us all buying alcohol conversion kits for our internal combustion engines.
Morally, I don't think you should waste what you have. Legally, I think a person should be able to waste his own belongings all he wants; unless those belongings are a vital part of the community (like oil, electricity, or water) and it is in short supply. So yes, if oil becomes rare and our way of life depends on it (in other words, there aren't any reasonable and feasible alternatives to the oil), then we should all conserve it for the sake of everyone, no matter how rich you are, because in that situation the oil becomes priceless.