And what is it you think we're going to just "increase efficiency" of?

Even if you assume something stupidly simple like insulation for houses, there are limits to the returns.  Insulation requires resources to create, distribute, and install.  It has a finite lifespan.  It takes a long time, probably several years, to roll out on a large scale in a cost-effective manner.  And it takes even longer for this investment to pay off.

So, no.  The next time energy prices spike, you're not going to see people rolling up their sleeves to make anything more efficient.  You're going to see wars and people dying.  You're going to see a forced drop in consumption and living standards.  In fact you're probably going to see this pretty soon actually, since absolutely nothing has been done to "increase efficiency" since the last time energy prices spiked, except for a bunch of taxpayer theft and subsidized waste.