Owen Stanley,
You may well be right, but like the speculators (read NYEX Traders) that punt on it, it's all a bit of a short term guessing game.
The long term outlook can only be an escalation before the market collapses all together (which could be 10-100 years away with the crap data we have).
Hence the potential volatitlity.
The hardest part of it IMHO is changing the whole infrastructure and it's political influence - oil companies, car manufacturers and their supply chains, globalised business and their supply lines, tourism / business travel, etc.etc.
Optimistically though, we have done it all before.