Yes, gas in the US will remain over $3. Those on this board who think that a change of administration, or some sort of windfall profits tax on the oil companies so that the money can somehow subsidise prices and pave the way for a return to the days of $2/gallon are living in Cloud Cuckoo Land.
As for China being the threat, I tend to think that America poses the greatest threat - to itself. In another thread, Rolex indicates that other countries like Sweden and Finland are making strides to become independent of oil, and that Japan has actually reduced oil consumption in the last 30 years. In Europe, energy costs are high and so we've always had to be energy efficient, so in countries like Austria and Italy, 60% of cars are powered by fuel efficient diesel engines and achieve 50/60mpg or more.
What is America doing to reduce its oil consumption?
Erm...