Ok, think of it like this:
Your kids will need to be trained in ways that you never thought of. I belie my nature everyday: I'm an I.T. guy that grew up Amish. (Well, not totally amish) but I still learned enough of farming, basic husbandry and arbor knowledge to build upon. And I did this from the Amish village point of view: We all helped each other.
When the crash of cheap comes around, there will STILL be oil... like Eric said. But it will become so tough to get that it can't be used in the ways that it's used today. No more plastics, no more synthetic materials (Polyesters and shit like that) and no more throw-away items. That's about all we'll see the "end" of. Gas will be available at all times - but after a while of it being so damned tough to get (And expensive) we'll break our addictions: And then what's left over is the plummetting prices of Oil so that gasoline will go back down to $1 a gallon. It will still be rare enough to get that driving will remain a luxury or a novelty.
At this point cars will become insignificant. Motorcycles will be common place, people will stay home from work during the rain and snow and work from home (The internet and electricity will still be around: Granted by wind turbines located in your actual town). And while we're on the topic - the bills that you pay for electricity will go directly to the grid, adding or improving windmills as the village need arises. And this is where our hobby gets good:
Airplanes will be on the same level as Cars. It will be just as easy to own an airplane as it is a car today. That means OWN one. And fly it yourself. Not (like Brian suggests) going to an airport and paying someone to fly you to work. Work will be within a reasonable distance from you, and chances are you'll be working with the generators, hydroponics farms, fuel farms, or public works (Or perhaps part-timing at the general store). Travel will be whenever you want, however you want.
The highways will return to the water. Coastal areas will be the concentration of human population, and most everyone will have a sense of boating. We may even have a little boat to get to the big places in. Show up at a port, dock it to a large docking system, and report to the shores for a rental bike or electric car.
You'll have computers, but they will be mostly laptop or tablet. Power efficient and cheap. (And made in the US by large in-land producers who pay their employees well enough to combine with their 8-hour work day (Which most of america no longer adheres to). Insurance will be a bank account that you start and maintain - you work out prices with the doctor or trade services.
Imagine an agrarian life where electronics and math play an important role - your kids will have to be WAY smarter than you to survive in this world. They'll know both farming skills and aerospace skills. They'll have the tools and know-how to not only tinker in the barn, but use high-tolerance machining and blueprinting to perform amazing things.
Cities will be there too - but they will be the financial and production centers of the new world. They will have cheap housing with expensive food. The elderly and meek will primarily live here, trading whatever service they can do (Customer service or Sales) for your real-world trades and skills. The Cities, like today, will have a better public transport system, $100 a month or so stacked-style apartments and $15 sodas, whereas the rural areas will have houses that require a large family to run and maintain, (Thus, high cost) and the food and services will be dirt cheap.
Read that, I'm going to lunch - I'll continue later with this vision