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The Energy Department's Office of Energy Efficiency and Renewable Energy funds research at national labs and private companies, and recently offered $4 billion in loan guarantees to 16 clean-tech companies, including three in or near Silicon Valley. It also helps sponsor trade missions to China and India that have included energy start-ups, such as MiaSole, a Santa Clara solar-cell maker.

The big strategic questions concern energy security and the shift in the balance of power towards unattractive regimes, be they Vladimir Putin’s Russia, Hugo Chávez’s Venezuela, Mahmoud Ahmadi-Nejad’s Iran or the House of Saud’s Arabia.