Before gasoline would hit $10 a gallon I would suspect the SEC would suspend futures trading in the United States. In other words: government intervention. At $10 a gallon usage would plummet and so would OPEC profits. As has been mentioned, foreign oil would be supplemented or replaced by aggressive drilling in our own hemisphere. Alternative fuels are still so far off from widespread reality that they are no more than a promise. Hybrid technology would probably be mandated by government. Either that, or a minimum of 60-70-80 miles per gallon for gas-only powered cars. Life as we know would certainly change.