1st I would ration gasoline. To each according to need. Just the very threat of such action would serve notice to oil speculators and foreign suppliers that we are serious and will stand for this hijacking no longer.
2nd I would initiate a Federal 60-mile-per-hour speed limit. (Since I restricted my own driving to 55 MPH during my 20 mile commute to work a month ago I've seen a significant saving on my gas bill. It works.)
3rd I would begin the process to re-open the FFTF advanced nuclear research reactor in the US that was shut down two years ago. Its primary capability is the production of fast neutrons -- is a key to nuclear development and the best hope this country has to solve its energy problem. It also had the capability to re-process nuclear waste.
4th I would ask Congress to provide incentive money to every homeowner who used solar, wind or anything else to cut their energy consumption by 75%.
5th I would impose a $1,000 fine on real estate brokers and sales people for EACH deal they made over the past ten years that the buyer clearly was not qualified to handle financially. As a former realtor I know better than most that the real estate profession has gotten away with murder in this mortgage crisis.
6th I would ask the private sector to set up a company to explore geothermal energy. They could begin by studying Iceland's research and develop from there.
7th I would insist the media report BOTH sides of the global warming debate rather than just the politically correct side. We can't afford to waste money, time and --yes--energy cutting back on emissions that won't make any difference. If we need to learn how to control sunspots and volcanos then it's high time we faced scientific fact and got on with it.
That's a beginning.
The most important thing is to do something NOW while doing the things that will make a difference in the future. Rationing gasoline and conserving what we're using would be a crucial step toward bringing down oil prices right away.