Better a little socialism now than totalitarianism later when the oil shortage becomes more pronounced. Weaken engines and we can extend how long we can drive cars at all. Ignore the problem until there's gas lines again (I was around for those) and solutions will be much more draconian.
First off fucko socialism ALWAYS by definition leads to large government and high government controls. See any very socialist government, USSR (communist socialist), Cambodia, NK, Cuba, Venezuela, NAZI Germany etc and you see the socialist big government becoming totalitarian.
Conservatives by their definition desire less government to AVOID the totaliterian government associated with Big Government that socialism creates.
Third, cars are NATURALLY becoming more fuel efficient. Yep their are race cars, but most people don't use them as their every day car. Cars are becoming much much more efficent.
Lastly, just like every liberal myth, peak oil is ways off. I remember getting very nervous in early 90s in Jr High when my teacher total us peak oil was going to high in 1996 and it could end out civilization. Then it didn't come. Fast forward to today and large oil reserves are being discovered DAILY all over the world. Here in the States. Off-shore, deep sea, in Russia, in Canada, in brazil, In Israel, etc. Oil is poping up everywhere.
I am not in denial that peak oil won't occur, but I believe it won't happen in even our children's lifetime!