I am still somewhat disappointed in that we always hear more about which form of energy to use than how to reduce energy consumption in the first place. And I don't mean necessarily that everyone should be thinking at every waking moment how to use less, but rather using existing technology and better supporting ongoing research towards making every item that uses energy in any form consume less. I sometimes wonder if computer technology and engineering has been in part taking some of the engineering brain power away from more conventional engineering (but maybe not).
If we take away all subsidies, tax incentives, exploration credits, etc. from any and all forms of energy production, then all energy sources are both expensive and at least somewhat environmentally damaging and polluting just to produce in the first place, starting with the employees in those industries getting themselves to work.
An ounce of prevention ...
A few joules saved here, some there, if spread throughout all of industry and at home, could save us mountains of ungainly and convoluted 'cap and trade' legislation, e.g.
The private sector and government could increase already existing support to universities and private consortiums (consortia, I know, but ...) for basic research to seek better materials (lighter, stronger), more efficient manufacturing processes, more efficient motors, less heat waste, etc.
At the end of the day, economics determines what money gets put where, and so the biggest single obstacle to the above is the artificially low price of all of our energy at the retail level. Most of the "external cost" of energy is not reflected at the pump or in our utility bills. Nor are these external costs completely reflected in most anything we buy that uses energy in its production, both goods and services. Which in fact is pretty much anything and everything. These costs are bourne eventually by taxpayers, who mostly wonder why taxes keep going up, but usually not tying together the expensive pollution abatement and clean-ups, etc. with the relatively cheap gas and electricity. If the true total cost of energy production and usage is put before us in one price, then the basic R&D for new materials and processes looks not nearly as expensive as it seems to now.
The new hot water heater, furnace, etc. that are more energy efficient but cost more at purchase, do not look nearly as expensive now.
We cannot withstand all the solar panels and wind farms and sugar ethanol production, much less oil and nuclear and dams, required to sustain us at this level and also sustain the fast rising consumption of developing countries, at current levels of efficiency.
But, if we are as smart as we think we are (as I know we are), we do have the ability to come up with the technology to do all this. If we just have accurate prices and costs to compare, the decision is pretty easy.