Are you stupid? Do you really think you can do anything about gas prices? With China's oil demand it's just the beggining, here's a black but realistic scenario:
Actually we are screwed on a really short term. Soon oil price will be so high that China will not be able to finance the American deficit anymore, Japanese will not be able to pay for their retirements so they will also stop to finance that HUGE debt of yours. And then...
America will finaly start to realise that ultra liberalism is dangerous, but it will be to late: the next president (hillary!!) will be forced to instal a tax on consumption, the unemployment rate will explode, banks will stop to give credits and so the entire financial system will go upside down. Then unemployed people will not be able to finance their credit card anymore wich is going to make some huge banks go bankrupt. The Federal Bank will try to do something by putting the interest rates at 0% but like in Japan in 1990 it will failled.
No need to explain that without a strong American economy, Europe is fucked.
2 years of recession later the world economic growth will finaly start again but in the mid-time, China will have become the first financial power in the world.
Unfortunetly i'm not talking about the far future, but about the next decade.
Sorry for the bad english, i hope my scenario will never be true!