Spend on building the infrastructure for an economy that is not oil dependent.
Wind power, the transmission and storage capacity to make it work, high speed rail to replace shorter air routes, nuclear power in a sensible way.

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“ The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”

Adam Smith , The Wealth of Nations 1776

"We have always known that heedless self-interest was bad morals; we know now that it is bad economics"
FDR's second Inaugural Address