Sadly, the least of the problem is the cost of gasoline here in the States (at least so far). Even at the current national average price, gasoline is still relatively cheap compared to most parts of the world. Many of us can offset the increased cost by reducing unnecessary trips and making small adjustments elsewhere in the budget. Unfortunately, that method doesn't help in the really important areas like food prices or keeping warm in the winter. Ask the poor around the world how it feels to have their daily rations cut in half due to food price increases and shortages, all tied in one way or another to the high prices for oil. There have been riots already in some countries, and I would expect to see many more. I think I remember many of us commenting in a different thread last year about the fallacy of diverting so much grain to ethanol production and how that would distort the market for both human and animal food. Well, it didn't take long for the down side to become reality, and on a worldwide scale.
I swear it feels like déjà vu all over again. For those old enough to remember, it's starting to look a little like the 1970's. Inflation, recession, unemployment, shortages, etc., all tied in one way or another to oil.
Jerry