It will happen, it's market driven, but look at Toyota and Nissan, when they started building trucks big enough to haul something, their mileage was worse than Ford and Chevy, so it's not like it's a domestic only problem. Some of the blame has to go to government regulations within the auto industry, you could really build a light car if you left things out like side guard door protection, laminated glass and crush structure, which is done in a lot of other countries where gas is even more expensive than here.
As far as hydrogen fuel goes, a lot of this was experimented with back in the first fuel crisis in the 70's. A couple of problems with hydrogen is that there's no infrastructure to get this highly volatile fuel to market, and even though the hydrogen likes to call it a "fuel cell" the fact is, it's a freakin' compressed gas bomb that you're riding around on. I'm still getting used to the rolling haz-mat incident known as a Prius.