Actually, this is totally wrong. It's true that if fares double in price, the miles double in value. But then, you also paid double for the flights on which you accrued those miles. So on net, nothing has changed -- IF the airlines keep the award structures the same.
Uh, no. If you have
already accumulated the miles over the course of several previous months or years, then you have most definitely not paid double if airline fares double in price.