Growing energy crops on a mass scale
I believe that the mass cultivation of energy crops will eventually precipitate to the forefront of Western politics. In many ways, oil and gas dependence has characterized nation states' foreign policy since the First World War. The supply-side realities coupled with geopolitical instability and ever rising demand all suggest that we will see oil at 100 dollar-per-barrel mark within 18 months.
It's truly mind-boggling why our society has not poured more intellectual might into creating a carbohydrate economy, supplied primarily by organic feedstock (including industrial hemp). "Western" society's future is inextricably linked with oil dependence and my hope is that higher oil prices will eventually serve as a energy-awakening "tipping point". It's true that current processing technology is still not at a level that makes industrial hemp based fuel, or other cellulitic-based fuels for that matter, an economic slam dunk. But for goodness sakes...we've grown ears on the back of fluorescent mice and figured out how to put rovers on Mars. With a little volition, we will figure this out as well.
Imagine an economy where cellulitic biofuel has 5% of the fuel market. The dampening effect of such a demand-led curve shift would ease oil reservoir supply-driven fears and stabilize prices. The world is depleting oil reseirvoirs at a rate of 5 to 10 percent per annum...having biofuel as a mitigating and stabilizing alternative would have profound implications for oil prices...and ultimately foreign policy.