The problem with your logic is this: Those billions in India and China are A.- In the third world where anything more powerful than the moped powered quadracycle will cost more than a year's wages, and B.-Due to all the jobs being in highly packed urban centers it will be cheaper and more efficient for them to simply take the bus/rail which a good portion of the USA simply doesn't have and is doubtful they will be getting any real public transport anytime soon, since we are big on "government is bad" ATM and pretty much the only way to make rail and or busing affordable in the vast areas of the USA would be to subsidize them.
Then you figure in that most inner cities are hellholes and you can see why urban sprawl won't be going anywhere. I live about 45 minutes from the capital, by having that amount of distance between me and the major population center I have a nice large apt in a nice neighborhood and can walk to the local Walgreen's at 3AM and the worst I'll encounter is someone asking if I have a cigarette they can bum. Compare that to when I lived in the capital where 4 times what I'm paying now got me a dinky apt where the sounds of gunfire and sirens were pretty much an every night occurrence, where you sure as hell weren't walking or riding a bicycle anyway, not unless you liked taking your life in your hands, and where if you didn't pay extra to have your vehicle stowed in a secure car park when not in use you would come out to find it on blocks with the stereo and battery gone to boot.
So even if the price hits $200 a barrel I'll just borrow a relative's beep beep car for long trips and keep my nice paid for 14MPG Ranger and my nice bullet free apt, thanks ever so much. You may like living in a place where "Welcome to the Jungle" is the theme song, but it isn't for me or the multitude that live outside our decaying cities. Thanks anyway.