The issue is more that we’re currently running out of extractable fossils (net energy peak for oil liquids is projected to peak as early as 2025 and the decline into nonextractability is rapid) so it’s a question of having liquid fuels and synthetic stock, at all.

What kind of life style we can expect where hydrocarbons and energy in general is expensive is an interesting question. See e.g. https://surplusenergyeconomics.wordpress.com/ for analysis of that.