Much of the world outside of the USA is already paying much more for their gasoline, and other consumables. Europe has being prices twice as high as $4 a gallon for quite awhile.
In many ways, the high price of fuel is a good thing. For one, it has made alternate forms of transportation and energy much more appealing, and it has made many realize how much they are truly wasting on a daily basis. I really do believe many people live in a fantasy world (not talking about religion here so don't get testy). I mean, the earth isn't a magic pump, constantly generating fossil fuels (at least at the rate we use them) and it is more akin to a large barrel of oil which we have all been happily horking down for last century or two.
Fortunately there are many, many alternate places to find energy that aren't as damaging. Whether we are able to transition to those alternate sources of energy before we experience a full economic collapse and the fall of our civilization is another matter.
I would personally like to see more nuclear power plants and solar farms, but heaven forbid we actually do something with foresight for once.
