I think all this discussion about fuel prices is nice, but we're forgetting all the other things that petrochemicals produce: plastic, medicine, vitamins, fertilizer...pretty much anything we touch (and it was brought to your store by trucks). Alternative energy sources cannot produce those items themselves.
So $10/ gallon will kill the automotive segment. But it will only further cripple the medical field, consumer products, technology.... the list goes on.
As much as it pains me, I don't think we can live without petroleum. So, we'll (hopefully) learn from this disaster, work to prevent future ones, and go watch the "16 and pregnant" marathon on MTV.
I don't live in a yert, but I do drive a car that is about as old as Ghengis Kahn... and it gets 40 mpg on a good day (32 is the worst I've seen out of the past 8 years).