Some years ago, bringing up peak oil--the concept that oil production will crest and then decline, leading to all sorts of trouble in society--might have made one seem like the kind of person who frequents Web sites that sell survival books and freeze-dried food. Today such discussion has pretty much hit the mainstream. Last month The Wall Street Journal featured a front-page story about two prominent geologists arguing over how much oil is left in the ground--and it noted that the view of the pessimistic geologist is "ascendant." Experts famously argue whether oil is past peak, yet to hit peak, or destined to hit peak a long way off--as in, perhaps, a few decades from now. Here's the bottom line: Oil--the main transportation fuel and an integral part of every product people use--is a finite and dwindling resource. The current price hike should give higher-education institutions an opportunity to think about how they might fare if oil got really scarce. This article discusses the need for college leaders, with help from facilities managers, sustainability directors, faculty members, and even students, to think hard about how systems on campus would operate in an energy-scarce world. A looming energy crisis offers a tremendous opportunity for colleges, and not just for the major research universities that are looking into algae biofuels and hydrogen fuel cells. Alternative fuels may not reach levels that will slake the tremendous thirst for oil, which now stands at about a quarter of the world's consumption. Coming generations may live in a world vastly different from the one people see now--more local, more interdependent, more efficient, and more creative. Colleges that offer an education that equips students to live in that world will remain relevant.