Let the free market and the law of supply and demand force us into conserving, re-engineering society to use less energy, and developing renewables. Just slap a tax of X% on all fossil fuels, and adjust X as needed to soften the effect on the economy. Use the revenue so gathered to subsidize renewable energy technology.

Of course, the only problem with that plan is the energy industry will spend whatever it takes to lobby against it. Capitalism loves to talk a lot about market forces when they can get them to work for them. When it hurts profits they go full Socialism every time. Buying politicians and conducting PR campaigns is a lot cheaper than retooling. What they really want is tax breaks, subsidies and lots of government contracts. And you know if they have to they'll go to war to get it. The world has been fighting for oil since the Brits started powering their dreadnoughts with it a century ago.

So much for "free market economics". In the end, it always comes down to bayonets.

HMS Queen Elizabeth (1913) The first oil-fired battleship