Although he may be oversimplifying a bit, Thomas Friedman details a case study of Denmark's energy strategy, which has led them to be completely independent from the Middle East's petroleum.
Denmark accomplished this through government intervention in setting the stage for making innovation in the energy field competitive, and then let their domestic entrepreneurs and markets take off. This has also positively affected their unemployment rate as Denmark is becoming a front runner in alternative energy technology and is turning it's market view towards the rest of the world.
Denmark is significantly smaller than the US, China, India, and many other of the top petroleum importers, but still, if they can do it, there's no reason others can't.
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