Ordinarily I'm a fairly strict libertarian/capitalist on economic issues, but when it comes to energy I think there is a role for govt. intervention (though limited). Nobody can claim that Oil is a free market... OPEC has more power than they did even in the 70's. The only way to challenge the cartels power is to curb demand, and the most market-friendly way to do that is gas taxes.
Increasing non-OPEC production is not an option?