One thing to keep in mind about Americans' tolerance of oil prices is that while prices might double or triple, many Americans drive vehicles whose gas mileage is less than a third of a vehicle they could be driving. If someone switches from a 15mpg truck @ $3/gallon gas to a 45mpg car @ $9/gallon fuel, they won't feel any financial pain. The streets won't be filled with cyclists any time soon, but there will probably be a lot less V8's out there.