We won't be swimming in horse manure. Fertilizer will be too valuable to swim in.
That, I think, is the real crisis we face. If push comes to shove, we can do without cars. We can even do without electricity. We can't do without fertilizer.
Back in the '60s, people predicted that we'd soon be facing Malthus' doom. Heck, my dad became an agronomist for that reason; his advisors all told him that feeding the world would be the major problem of the future.
It hasn't happened...yet. The reason was the "Green Revolution," that used technology to triple food production. Especially petroleum-derived nitrogen-based fertilizers.
But we're hitting the limits of the Green Revolution now. Even though we still have relatively cheap and plentiful oil. World food production has fallen for five straight years. Because the weather is growing less predictable, the soil is becoming exhausted, and water is becoming scarcer. The UN predicts that by 2050, we'll only be able to feed half the world's population. (And that's assuming oil doesn't peak.) CNN's finance show, "Lou Dobbs Tonight" ran a story not long ago about how Canada and the U.S., the only major food exporters left in the world, will soon not have enough to export. Again, that's assuming oil doesn't peak.
Without oil, the problem becomes much, much worse. Yes, there are organic sources of nitrogen available. There are nitrogen-fixing crops. We could remove the heavy metals from sewage sludge and use that. We could produce it using massive amounts of energy. But it won't be enough. And it will be too expensive for many farmers to afford.
Without petroleum-derived nitrogen-based fertilizers, we would be hard pressed to feed our current population, let alone any increase due to immigration or birth rates. We certainly wouldn't have anything to export, though many people depend on our exports. Moreover, without cheap oil to run farm equipment, and without the transportation system to ship food cheaply, most of us will probably be forced back to a rural lifestyle. One in which most of our time is spent farming. (In Cuba, mentioned in another thread as a country that survived an oil crash, people spend 2/3 of their time farming, and people who farm have three times the income of those who do not.) Without oil, we simply can't expect 2% of the population to create enough food for everyone. It will be like it was before industrialization, when 90% of the population were farmers.
And that might actually make our problems worse. The population bomb everyone worried about so much in the '60s and '70s has been defused. Oh, we're still growing, but not nearly as fast as predicted. Birth rates are falling all over the world. And a big reason why is industrialization. Rural families have lots of kids, because it's free labor. Even in China, rural families are exempt from the one-child policy. In the city, it's a different story. With families crammed into small apartments and few jobs suitable for kids, it just doesn't make sense to have a large family.
But if we go back to a rural lifestyle, suddenly having lots of kids will make economic sense again. For individuals, anyway, though not for society as a whole. I suspect it will mean a further drop in our standard of living, and likely a high death rate from disease, violence, and starvation.