Guys, I'm talking about today (as noted in the OP). I would love for electric motors to power all of our vehicles, but that's not going to happen today because it'll be prohibitively expensive for most industries. Unless you've got some figures proving that every car and truck can now run on electricity cheaper than gasoline, you've got to change your tune.
It's not prohibitively expensive if we shifted oil subsidies to electric/nuclear subsidies. Also as another poster pointed out electric would be cheaper (~$.75/gal for gas would be price parity on their numbers).
http://www.scientificamerican.com/article.cfm?id=electric-cars-cost-per-charge
So either you want people to say "oil!!!!", or you're question is bullshit. We don't have the ability "today" to move to electricity, bio-fuels, or anything else for that matter. We are so heavily invested in oil (from infrastructure, to economics, to industry, to just about everything) that we can't get away from it "today."
The nuclear/electric option could be done with todays tech, and investment from the federal government and corporations. All major car companies have the ability to make all electric vehicles. The major limiting factor right now are the batteries, which are at a state that we can get long enough range out of them for most driving needs (with exception to long haul/road trip type deals). If we use natural gas for that though, it's a much cleaner option (if not entirely clean) and could also be done today at a cheaper price than current gas is.
I never said the answer would have to be economically viable, just that it's the most economically viable. Big difference.
The most economically viable is oil, which means that the others are not going to be able to break oils stranglehold on the economy. Unless we invest in something else that would drive the costs down and make it economically viable (i.e. price parity with oil to get it into mainstream, which then could drive the cost down more and make it more viable than oil), then we are staying with oil and fossil fuels. There is no other option. We don't have a second option that's all ready for us to start using tomorrow.
Also, what exactly do you mean by economically viable? Electric and biofuels are both economically viable, once the investment to switch to them is made. As it stands today though, there is no other option outside of oil that is available.
Carbon hidden away in the ground is effectively nonexistent, wouldn't you say?
It's not effectively non-existent. All the carbon in fossil fuels that has not been refined yet is "effectively non-existent" at present. That doesn't mean it won't be "existent" once processed/used though. Yeah it might not be in the current atmosphere, but it will be. So either you want economically viable that is not carbon neutral (i.e. oil), or you want less economically viable and carbon neutral (electricity from nuclear energy)/more carbon neutral (i.e. bio fuels).