Want cheap energy and energy independence!
Then nuclear is the only way to go for mass consumption on the power grid. Further, we need as a nation to improve the technology of co-engine support, known as Hybrid systems. Using engines similar to a 1000cc motor racing cycle engines which could get 60 – 80 mpg, attached to a generator, supplying batteries, driving an electric drive train when extra power is needed the generator will supplement power directly, similar to diesel electric trains. This would be enough to support SUVs economically, pull boats, go up hills without effort and haul a family of 6 or more everywhere…
Even today's small hybrids use bigger motors than that. You aren't going to replace a 5L (~320ci) engine with a 1L engine plus a small electric motor. It turns out that for space efficiency and distance traveled, you can't beat a tank of gas and an internal combustion engine - except if you use diesel.
The electric engines in hybrids aren't used at highway speeds. The electric engine has an advantage in the stop and go, and low speed regimes where speed changes a lot. On the open road, the inefficiencies involved in running the gas engine through an alternator to drive the electric motor mean that you just run the gas engine only. So, if the gas engine isn't big enough to drive the entire load at highway speeds, it isn't big enough.
And your example of a racing engine fails, as racing engines aren't required to meet road car emissions or noise standards. Meeting both those standards will reduce power and mileage.