Is it really that complcated? (energy crisis)

I'm a bit of a cynic about government. I really am. And as a science person, I'm kind of aware of how much junk science is floating around. So: The world is warming up. The effect of greenhouse gasses put into the atmosphere by people isn't negligible. Oil and coal will both eventually run out, and I'm not sure exactly when. Renewable/sustainable energy is clearly a GOOD IDEA. So, here's what I think we should do:
As a country, we give a pile of subsidies and tax breaks to oil companies. If we drop those and put the money saved on that into 1) Some programs to help people pay to heat their homes, because this will make oil prices rise and we don't want to make people homeless, 2) Making public transit programs less broke, and 3) research into sustainable energy, good things happen. First off, gas being more expensive and improving public transit programs by moving more money into them (possibly cut the subsidies to auto makers as well, but that would need to be after the economy is back in shape), people might actually use public transit, which is good for making oil last longer and polluting less. Second, research makes the sustainable stuff start working better sooner. Third, taking subsidies away from oil means that renewable stuff will be cheaper than oil sooner. When renewable energy is cheaper to use than oil/coal, people will switch based on pure economics, and it will all be hunky-dory.
Yes, I know it's not actually that simple. For one thing, that plan will never get passed. But since running out of oil before we get anything sustainable up and running is 笨死了， possibly literally (the Chinese would literally be stupid to death/dead of stupid), come up with a better idea or use mine. If you have a better idea, have at. I am totally game for an economics discussion to distract me from all the junk science I keep seeing about autism.