No, not like ethanol. Ethanol is a flawed alternative energy which really screwed everything up. The energy output of ethanol is basically lower than what we put in, and it has screwed up the agriculture industry because everybody is switching to corn because of subsidies. I am talking about wind (this is so easy to do), geothermal where applicable, and even more funding towards things like the hydrogen cell. For example, look at Denmark. The government applied a gas tax, but instead of the tax money going to some black hole, it is directly funded back to energy efficient and new energy technologies. As a result, Denmark is one of the most efficient energy users in the world.
This also involves perfecting current technologies, like energy efficient engines. More money needs to be put into this, and taken away from oil where marginal costs of obtaining oil will rise and rise and rise because the supply of easy to get oil is just about gone. In order to compensate for this, we are looking to harder and more expensive areas, like the north slope of alaska, the oil sands in alberta, and the chukchi sea off the northern coast of alaska, which is frozen a good amount of the year. Without change, we are screwed, because oil prices will not fall significantly in the future... ever.