I had read a few years ago that if we took a 100 square mile area in AZ and built a giant solar collection field there, that it would replace all other forms of electrical power generation in the US. From what ASquared says, that would be close to enough, and is not that far-fetched because AZ has extremely strong and reliable sunlight, and has vast tracts of land that, while beautiful, are not really well suited for other purposes. Obviously there are transmission considerations and one field in AZ could not efficiently supply the entire country, but the premise is sound. Then, if we split that one hypothetically huge field among AZ, CA, NM, NV, UT, CO and TX it seems like that would take care of a large part of the country directly. Obviously as you go East the weather and available land becomes less favorable, but other forms of alternative production are available there (nuclear, hydro etc) and in any case, converting the excess electricity produced in the western states to hydrogen, then shipping it East when necessary seems plausible. During severe times, there are also considerable reserves of natural gas and coal in the country that could back up the solar resources. They would play a secondary role rather than the primary role that they now fill.
It seems to me that since the problem and solution is a national one, the Feds would have to lead the way. The problem as I see it is the synchronization of the Federal Gov't and the open market. For example, when we opened up the Strategic Oil Reserves a few years ago to ease a crunch, that oil had to flow into the world market first before it could be refined and utilized by US consumers. There is no way that I know of to give Mobil or Exxon a few million barrels of oil and stamp it "For US Consumption Only". So we did not necessarily reap the entire benefit of those millions of barrels of oil we dumped on the market. Same problem with "drilling in Alaska". It's an international market and system, at least right now before the situation is critical. Then it will be every country for itself. The same is true for the electrical/hydrogen problem - it is a national system and would need close coordination by the Feds to work. I am referring to cost here mostly - it seems that somehow federal regulation (I hate those terms) would be required so that in the early stages (i.e. highest costs) the people in the East would have to share the costs with the people in the West as the new system was built. It would ultimatley benefit the entire country, so that seems fair to me.
As far as foreign policy goes, I am comfortable paying for foreign oil right now as opposed to using our own. When OPEC runs out, we'll hopefully have some left and will be in the catbirds seat then. Long term, I feel more secure this way, even if it is money out of my pocket now. I would also be all for developing alternative sources of electrical power now, rather than later, and utilizing it now for personal vehicles. We need to save petroleum for larger vehicles (airplanes) where alternative power solutions are much more complex. Switching now to alternative sources for small vehicles will buy us time to work out solutions for the more difficult applications.