your solution may be perfect for a textbook, but it stinks as real economic policy. it will cause massive economic (and political) dislocations, which are uneceessary, when a sane policy can be implemented to reduce consumption.
would I mandate corporations allows flexible telecommuting and work weeks? I would damn sure do that before starting some massive government gas rationing coupon system, or just letting many americans descend into an economic black hole.
politically, your idea is a loser too. imagine Bush using the bully pulpit to tell americans "if you can't afford the gas to get to work, and have no other means, quit your job".
It's not about textbooks. Just about who can provide the solution.
The less the govt forces some command solution, the better off we'll be. That's proven fact, not just texbook theory.
I also don't believe that it is possible (nor desirable) for the govt to institute a new plan for eliminating rainy days.
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As far as consumption goes, any oil NOT used by the US will go to China or elsewhere. Whatever you do at your job (and I'm giving you credit here so don't get cranky) is a vastly more efficient use of that oil than if it is shipped to run some State Owned Enterprise in China.
The price is not just rising in the US, you know.