It already effects me pretty adversely, i dont drive, because it just costs too much to fill up. So i ride a bike. Oil production has already peaked, and oil prices will never be near what they were 10 years ago.
I don't think that the switch from fossil fuel will be as drastic as some think it will be, odds are we will end up using natural gas, or another liquid combustible, seeing as we don't have the infrastructure prepared for anything else. Either that, or the cut off from oil will end up causing a catastrophic break down in american society.
Electric cars on the other hand are not the most effective for long range transport, there would need to be more charging stations, and there is also the cost for batteries and motors, which all has to be replaced much more frequently than a combustion engine.
Im sure that most of the greater changes are only going to take place when we're near the brink of complete failure.