You guys are funny. Yeah, that's it... build more US refineries.

The temporary fix is already in progress: Get Iraqi oil flowing into the US. That will help a little.
What's next? Here's one wild scenario:
average gas price $3
inflation
politicians talk about energy independence
deficit and debt service rises to fuel higher inflation
$4-$5/gal average gas price
politicians talk about energy independence
US economy gets worse, inflation 5-6%
global economy slows down
politicians talk about energy independence
Japanese hybrid elec/gas SUVs capture high US market share
politicians talk about unfair Japanese business practices
UAW members smash new hybrids in parking lots
politicians talk about high import taxes to protect US carmakers
$6-$7/gal average gas price
politicians talk about energy independence
unemployment reaches 8%, inflation 8%
China and Asia importing bulk of Saudi Arabian oil
politicians talk about energy independence
Saudi Arabia has WMD and people need to be liberated
China says back off
Operation Saudi Freedom begins
China responds.