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The thing to note about the cars coming out of China and India is that they are aiming for better fuel efficiency and are working on making cheaper hybrids. They could beat the other auto making nations to the punch.
My thought on the price of gas is that we should have a floor on the price that's somewhere around $4/gallon. It's at this price that other forms of energy become affordable. If the floor has to be kept by taxes so be it.
The higher prices can be met by an income tax break for the lower incomes.
Also, investments (either directly or via tax incentives) in alternative forms of fuel would come from the funds received from the taxes.
To me, it's more about making the West (read: US) less dependent on oil. Develop other forms of energy. Develop more efficient ways of living.
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"My hands are on fire. Hands are on fire. Ain't got no more time for all you charlatans and liars."
- Old Man Luedecke
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