"here’s a helpful quote from the recent past by Saudi Arabia’s Sheik Yamani, when asked how the oil age might end:Everyone is talking about how expensive gas is nowadays -- and I don't like it anymore than you. However, lets all remember that gas is a commidity whose price is determined by world-wide supply and demand; just like the price of sugar, gold, wheat, steal, ... So moderate your impulse to run to our government asking for a solution. We don't really want to live in a country where the feds control the price of commodities, do we? They kinda already tried that in the USSR and it didn't work too well.
The stone age didn’t end because we ran out of stones."
Also, as the skeptical Optimist points out in his post, high gas prices are the best way of transitioning to other energy sources (solar, hydrogen, ethanol, etc.), because lets face it, we're not going to drive hydrogen powered cars untill its cheaper to do so. High gas prices spur the technology that will end the oil age.