Scott Adams thinks Israel will eventually create the technology that will make oil irrelevant:

“The oh-my-God moment came when I realized that Israel can destroy all of its local enemies by inventing solar technology that makes oil uneconomical. Such an invention would do more harm than any military attack. And it’s all legal and moral. The politicians and business people in Israel have all the right incentives times a thousand. Their very survival is at risk. Israel is one patent away from crushing every oil producing country in the world.”

In his post, he links to the article that provided his ah-ha moment.