This post by David Warren has my thoughts in it.

” They consist mostly of getting the bureaucracies out of the way of technological innovation. Which could mean, for instance, letting oil prices soar to levels where competing methods of generating heat, light, and motion kick in, of their own free market accord.”

The only thing I would add, is that there ought to be a “world peace” tax and a “spill cleanup” tax of some sort added to the price of oil. That would raise the prices a bit more and the free market would take over.