Reducing oil consumption, at this point, is impossible. That's the flip answer. I'm a believer in the idea that reduction isn't efficient. You can go slower, but all you're doing is trading oil for time. And time is more important to me (and to society). The real question is: how long until we find better ways to power our growth? And the corrolary: will it be soon enough?
I think you're wrong about the amount of interest in working on this issue.
/jordan
ps: for an alternate approach, read this book http://www.amazon.com/gp/product/046503117X