Now is the time at SDA when we juxtapose! From Canada’s bright thinkers at DND:

Critical energy and water shortages combined with climate change could provoke wars within the next 15 years, warns a newly-released analysis by the Department of National Defence.
“Global reserves of crude oil could become problematic by 2025,” wrote Maj. John Sheahan in a draft version of the report, Army 2040: First Look. “This implies that (barring the discovery of significant new reserves, and barring the adequate adoption of substitute fossil fuels or alternative fuel and energy sources) critical energy shortages will develop in the time frame of (and perhaps prior to) 2025.”
The report noted that alternative fuels and energy may not be enough to respond to rising demand for energy that is forcing oil production to reach its capacity — a threat commonly referred to as “peak oil.”
“There can be little doubt that unrestricted access to reliable energy supplies is a global strategic issue, one for which, recently, numerous nations have been willing to fight, and have indeed done so [where, other than Iraq’s 1990 invasion of Kuwait?],” said the report, released to Postmedia News through an Access to Information request. “Thus the trend that envisions depletion of fossil fuels such as crude oil in coming decades may also contribute to international tensions if not violent conflict.”..

From Neil Reynolds in the Globe and Mail’s “Report on Business” (where some of the paper’s best stuff of general interest is often relegated):

The London-based World Energy Council says Israel’s Shfela Basin, a half-hour drive south of Jerusalem, holds 250 billion barrels of recoverable shale oil, possibly making the energy-vulnerable country (as expressed by The Wall Street Journal) “the world’s newest energy giant.” With reserves of 260 billion barrels, Saudi Arabia would remain the world’s No. 1 oil country – though not, perhaps, for long. Howard Jonas, CEO of U.S.-based IDT Corp., the company that owns the Shfela Basin concession, says there is much more oil under Israel than under Saudi Arabia: Perhaps, he says, twice as much.
Even with a mere 250 billion barrels, the Shfela Basin (or 238 square kilometres of it) would make Israel the third-largest holder of shale reserves in the world – right behind the U.S. with 1.5 trillion barrels and China with 355 billion barrels. Assuming for the moment that Mr. Jonas is correct in his calculations, the U.S. and Israel would together hold shale reserves in excess of two trillion barrels: Enough oil to fuel these two countries (at combined consumption of eight billion barrels a year) for more than 200 years.
And the discovery of further vast energy reserves in the United States and Israel progresses at an accelerated (and now often frenzied) pace…
According to the [NY] Times, 20 of these shale oil plays could increase U.S. oil production by 25 per cent in the next 10 years. “This is very big and it’s coming fast,” says U.S. energy expert Daniel Yergin, chairman of the energy research company IHS CERA. “This is like adding another Venezuela or another Kuwait – except that these fields are in the U.S.”..

Then of course there’s the possible shale gas “revolution”. Keep scratching one’s head over conventional wisdom.