An excellent point.
The development of new energy sources should be the engine that drives the economy to recovery over the next few years. We need something to replace the Stock Market, Internet and Housing booms and energy would seem to be the logical choice.
What is needed is for the Government, federal, state and local, to get out of the way and allow the natural release of all of that capital that is currently sitting on the sidelines to pursue solutions to the energy crisis. You have to go for oil to keep the economy going and to provide the income necessary to pursue the alternatives. Given enough capital, time, freedom and profit motivation the energy problem can be solved.
We only need to increase the energy supply for the United States by a couple percent a year to stay ahead of the curve. It is well past time for our government at all levels to help rather than hinder this effort.