Funny they should mention the OBX... We have our summer vacation planned for there in August. We rented a beach house with several other families which makes it affordable. In fact, we got a place (per couple) cheaper for the week than we could have gotten a weekend in OC, MD.
At any rate, with the high cost of gasoline, our trade-off is that all of our meals will be eaten at the house. Typically we'd eat one or two meals out, but this year everything will be at the house. By mid-August, I'm sure gas will be hovering around $5/gallon, so we'll be looking at a $100 fill-up one way.
There's no doubt that high gas prices will indelibly change the typical American vacation. People will be seeing less of America and there will be far fewer road trips taken. The love affair that Americans have with their automobiles will start to fade as being able to go for a "Sunday drive" will become prohibitively expensive.
I just think back to my teenage years and all those gallons of gas I burned running "The Loop" and to Long's Park!