Overall, about half of fossil fuel is extracted by "too big to fail" firms, about half by "small enough to fail" firms so about $550 billion/year of the income of "too big to fail" firms needs to be replaced. Let's assume about a half of that can be replaced by finding something else more constructive for fossil fuel firms to do; the other half can be replaced by the federal government buying fossil fuel reserves as mineral rights.
Nice sturdy tunnels like Disneyland’s basement would be good, to keep most of transportation infrastructures away from weather-related disasters and NIMBY. (I hope that coal mining firms can remember how to make tunnels!)
Our "too big to fail" oil and gas firms would love to drill and frack enhanced geothermal systems. We still need renewable energy replacements for petroleum products like gasoline, diesel, and jet fuel. I just hope we'll find - soon! - something that our "too big to fail" oil firms can mass-produce for profit.
Michael Bloomberg and his hedge fund friends say if we spend $200 billion/year replacing our electric grid with a smart electric grid - one with storage and renewable energy equipment, over 30 years we will have offsetting savings of $150 billion/year on weather-related disasters. Since our military leaders say they want renewable energy more than weapons, and our "too big to fail" MIC firms are well able to make these things, some money may come from military pork. If the demand coefficient of energy is -0.37 (US Bureau of Labor Statistic, 1968), a tax of 63% on energy, regardless of carbon footprint, would have 23.31% prohibitive tariff effect, raise revenue of 48.31% of base sales; this can be split between making up for a prohibitive tariff effect to "too big to fail" energy firms and setting aside 25% to invest in a combination of more renewable energy and more fossil fuel as mineral rights to keep it underground. $100/short ton of carbon content (this implies $30/metric ton of CO2) of fossil fuel sold as mineral rights would be generous for coal, inadequate for natural gas, grossly inadequate for good crude oil, might have some takers with currently not economically recoverable tar sands.