The best answer is to reduce consumption, and that isn't that
difficult.
Oh, yes it is! It's called The Tragedy of the Commons effect: No
politician dares mention the need to conserve because it would be the
kiss of death for his political career. All his opponent has to do is
say we can instead solve the supply problem by drilling more wells and
building more refineries, and he gets the votes. After all, the
politicians aren't even willing to require the manufacturers to make
more economical cars, because people just won't vote for a politician
who wants to take away their freedom to choose what to drive, so a
fortiori they are not willing to make anyone reduce their consumption..
Please note that I don't like this situation, but it's the truth.