Economics 101: Supply and demand
Diminished supply and increased demand result in higher energy prices- period.
To lower prices, increase supply, or reduce demand- it's just that simple.
We can increase energy supply by adopting alternatives like solar, wind, hydro, and biofuels.
To reduce demand, practice conservation.
For American motorists, this means driving less, driving slower, buying more efficient (that is, smaller) cars- buying no more car than one actually needs...
I realize this challenges the American consumer's perceived God-given right to shamelessly squander global resources without regard to consequences, but it's the only strategy that will ever work.
Here's a thought- impose a national (US) 55 mph speed limit on vehicles with Gross Vehicle Weight Rating (GVWR*) over 4,000 lbs.
(*GVWR is information required to be labeled on every vehicle sold in the US)
This would allow a car with a curb weight of less than about 3150 lbs to drive faster than 55 mph on rural interstates (optional state-by-state, I envision some kind of green "speed limit exempt" license plate sticker) but would require heavier vehicles to drive slower (and, incidentally, more economically).
Joe Gashog could keep his 4wd Suburban, he just couldn't drive it fast; if he did, as I imagine he would from time to time, states could expect lots of increased speeding revenues...
I think this is more practical than tightening or modifying CAFE requirements; car manufacturers get around them anyway by making and marketing "light trucks" (20 mpg CAFE) instead of "cars" (27 mpg CAFE).
I've suggested for more than a decade that "light trucks" used primarily for hauling passengers (determined, for example in Indiana, by being registered as a passenger vehicle) should be called "cars;" only vehicles used primarily (again determined, for example in Indiana, by being registered as a "truck") for hauling freight, should be classified as "trucks".
It seems to me a Suburban is a large passenger car, unless it has the rear seats removed and is mostly used to haul freight. Same goes for crew cab pickups and all other SUVs.