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Before we run out of oil and/or are affected by the prices cause due to
high oil one has to consider the reason why resources are going higher and
US buying power lower. This is one of the first major problems that will
be experienced by Americans and rest of the world secondly. This main
problem is devaluation of US dollar.
As a reserve currency most goods are priced in US dollar so looking at oil
at $80USD doesn't mean that oil went up that much in other currencies -ex.
Canada, Euroland.
As this seems to be done by design America will suffer first and most
likely drag the rest of the world down with it.

Sorry, I love a good conspiracy theory as much as the next person, but what
you have written is wrong. Fuel has gone up world wide and that price hike
is about the scarcity of the resource (as China and India boom) and not
about America suffering first.

America has VERY low fuel prices at the pump in comparison to the rest of
the world, where taxes and surcharges are massively higher than in the US.
The US is only now catching up with what has been happening in the rest of
the world for decades.