ocean farming-
someone places something in the ocean with an anchor on it, has some seedweed innoculated in it,
then they come back later harvest half the seaweed, use thermal depolymerization to make it into oil.
then after the seaweed grows back, they do it again.
no fertilizer required. no watering required. basically once setup it just generates seaweed again and again.
Perpetual near free source of food or oil.
That's the future of oil. Done on a massive scale we could easily take care of all our food and oil needs.
The only major downside is that international waters would be contested, and since the profitability would potentially be so high, there would be a strong incentive for various nations and or civilizations to go to war to fight over ocean rights.
So in the end you end up solving peak oil, peak food, and due to the reduction of water spent on agriculture possibly peak water, but you create the motivation for the development of stronger militaries, greater amounts of war ect... in order to secure the ocean which provides the source of wealth. Whoever has best military can claim greatest amount of ocean, meaning they can make the most money/wealth to support their civilization. Not only money but raw materials and things to keep the population happy.
With that you end up with a bigger military industrial complex, and a strong push towards greater centralization and a bigger, more powerful, almost totalitarian state.
On the bright side military competition between nations may lead to the development of greater high energy technology like more advanced forms of fission energy and eventually fusion energy (in order to make better weapons or in order to power more powerful weapons and power the military industrial war machine).
It could also lead to better development of computers and artificial intelligence (more automated factories, better AIs for strategic military purposes and automated drones and soldiers). The spillover of course might mean better electronics for the rest of us.
The upside to better high energy tech, is that it brings us one step closer towards interplanetary colonization.