...you'll love this plan. Even if you don't buy into the Cult of Algore theory that carbon is bad for Gaia (who seems to be thriving in spite of, or perhaps because of, increase carbon output), it is also a good plan for reducing the value of the oil under the control of dictators and reducing domestic energy costs.
First, implement Dr. Pournelle's plan:
I have to say it again: cheap energy will cause a boom. The only cheap energy I know of is nuclear. Three Hundred Billion bucks in nuclear power will do wonders for the economy. We build 100 1000 MegaWatt nuclear power plants — they will cost no more than 2 billion each and my guess is that the average cost will be closer to 1 billion each (that is the first one costs about 20 billion and the 100th costs about 800 million). The rest of the money goes to prizes and X projects to convert electricity into mobility.
The next step is already being worked on by automobile manufacturers, decent electric cars.
I see a lot of money to be made from an electric mini-van that has a 100 to 150 mile range. There are a lot of soccer moms out there who do the majority of their driving with a 25 mile range of home. That is a lot of V-6 engines that can be taken off the road.
All those city buses that currently run on diesel can be converted to electric power with plenty of clean, cheap Nuclear power.
Cut back on heating homes with oil and natural gas. Why use that expensive option when there is plenty of low cost, carbon neutral, electricity generated by clean, safe Nuclear Power?
Come on people! The French generate 80% of their electric power from Nuclear Power and even they can manage to do it safely!