Probably. Making the car makers create and build cars that get 35mpg isnt going to loosen up our grip on fuel, jacking the crap out of fuel prices will.
Just look at current conditions. People are cutting back, and people are chaning how they drive, what they drive, and what they buy. In a Free Market, the strong will survive. Having cars and trucks get an average of 35-40mpg only means that we will get smaller cars, with no soul, no passion...just really good gas milage while putting tremendus pressure on the auto makers.
Its kinda dumb to tell someone who needs a big truck to move a horse trailer, as trucks are a big part of our world. Now we have to tell them sorry, its a car based truck for you. I guess we could see the One-Tonne version of the Ute being built here.
Can you see people trading in thier Rams, Silvy's and F150s for these?