So we should go back to the horse driven carriage? How exactly would this work, and where would all these horses be kept, pray tell, with the current population being what it is? This is a question of gas prices, not "oh hey, we should never have let the genie out of the bottle!"
It's out. Those things are here. Can things be more efficient? YES. Can we curb our need for gasoline? Please, let's, and if gas companies were smart, they would be researching that very thing at break neck speed, so they could continue to meet our energy needs in the future. But this isn't going to suddenly stop the need for gasoline in the near future.
I'd love to see sources on this "downside" of gasoline prices being "too low". It makes people buy bigger cars??! Only idiots buy huge gas guzzlers. They were doing that during the worst part of the recession. Why? Status, nothing to do with gas prices. They wanted to have the biggest penis on the block. I see these vehicles constantly, but I live near all kinds of rich people. Those folks NEVER stopped buying huge gas guzzlers. They flout the ability to throw money away in everyone's face.