I have been thinking about the situation in the Middle East and also the rise of oil prices, peak oil, and the problem of a world economy based on energy scarcity rather than abundance. There is, I believe, a way to solve the problems in the Middle East, and the energy problems facing the world, at the same time. But it requires thinking "outside the box."
Middle Eastern nations must take the lead in freeing the world from dependence on their oil. This is not only their best strategy for the future of their nations and their people, but also it is what will ultimately be best for the region and the whole world.
It is inevitable that someone is going to invent a new technology that frees the world from dependence on fossil fuels. When that happens all oil empires will suddenly collapse. Far-sighted, visionary leaders in oil-producing nations must ensure that their nations are in position to lead the coming non-fossil-fuel energy revolution. This is the wisdom of "cannibalize yourself before someone else does."
Middle Eastern nations should invest more heavily than any other nations in inventing and supplying new alternative energy technologies. For example: hydrogen, solar, biofuels, zero point energy, magnetic power, and the many new emerging alternatives to fossil fuels. This is a huge opportunity for the Middle East not only for economic reasons, but also because it may just be the key to bringing about long-term sustainable peace in the region.
There is a finite supply of oil in the Middle East -- the game will and must eventually end. Are Middle Eastern nations thinking far enough ahead about this or not? There is a tremendous opportunity for them if they can take the initiative on this front and there is an equally tremendous risk if they do not. If they do not have a major stake in whatever comes after fossil fuels, they will be left with nothing when whatever is next inevitably happens (which might be very soon).
Any Middle Eastern leader who is not thinking very seriously about this issue right now is selling their people short. I sincerely advise them to make this a major focus going forward. Not only will this help them to improve quality of life for their people now and in the future, but it is the best way to help bring about world peace. The Middle East has the potential to lead a huge and lucrative global energy Renaissance. All it takes is vision and courage to push the frontier and to think outside of the box.