In a New York Times article, published just two days ago, Andrew C. Revkin reports a growing consensus opinion that:

What is needed ... is the development of radically advanced low-carbon technologies, which ... will only come about with greatly increased spending by determined governments on what has so far been an anemic commitment to research and development. A Manhattan-like Project, so to speak....

In an article in the journal Nature last week, researchers concerned with the economics, politics, and science of climate also argued that technology policy, not emissions policy, must dominate.

"Policy" means guidance "from the top." No place for an "invisible hand" of the market here. "A Manhattan-like Project" means government funding and administration today, just as it did sixty-five years ago at Oak Ridge, Hanford and Los Alamos. Exxon-Mobil won't do it. Why should they? They are flourishing quite well, thank you very much, in the "awl bidness." Global warming is a public emergency, requiring a public response.

"Market forces" are not irrelevant to this vast undertaking. Tax incentives and competition for government contracts can stimulate incentive, innovation, and enterprise. For example, windfall profit taxes could be levied on the oil companies, with the proceeds directed back at them earmarked for alternative energy research and development. But market forces, thus utilized, are subordinated to public policy. And the libertarians will have none of it.