$10/Gal. gas price will dramatically reduce air pollution and global warming, greatly reduce road congestion, improve traffic safety and make occasional driving fun. It will completely destroy exurbs, greatly devalue the price of suburban homes in the bedroom communities and increase the price of homes in/near employment centers and homes closer to public transportation.
On balance, it will cause much social dislocation but eventually be good. Just like moving from an agrarian society to industrial society.
Whether we like it or not, petroleum is finite and all this has to happen; either now or 10/20 years later. Why not now than later?
