Sweden has a head start on many countries in its use of renewables
The attempt is being planned by a committee of industrialists, academics, car manufacturers, farmers and others.
The country aims to replace all fossil fuels with renewables before climate change damages economies and growing oil scarcity leads to price rises.
According to the Guardian newspaper, a Swedish minister said oil dependency could be broken by 2020.
The Royal Swedish Academy of Sciences is worried that oil supplies are peaking, shortly to dwindle, and that high oil prices could cause global economic recession.
"Our dependency on oil should be broken by 2020," said Mona Sahlin, Sweden's minister of sustainable development.
"There shall always be better alternatives to oil, which means no house should need oil for heating, and no driver should need to turn solely to gasoline."
The Scandinavian country, which was hard hit by oil price rises in the 1970s, now gets the majority of its electricity from nuclear and hydroelectric power. In 2003, 26% of all energy consumed came from renewables, compared with an EU average of 6%.
The oil committee is to report to parliament in several months. Swedish energy ministry officials said they expected the panel to recommend further development of biofuels derived from its substantial forests.
It was also expected to expand other renewable energies such as wind and wave power.
In the past year, Mona Sahlin, the Swedish Minister for Sustainable Development, announced plans to break the nation's dependency on oil by 2020, without building new nuclear plants.  She stated that, “There shall always be better alternatives to oil, which means no house should need oil for heating, and no driver should need to turn solely to petrol.”

As part of the program, Sweden has recently organized the roles of various agencies in the expansion of its wind power program. 

The Royal Swedish Academy of Sciences is concerned the oil supply is peaking and that future high oil prices could cause global economic recession.  Sweden currently gets the majority of its electricity from nuclear and hydroelectric power, and 26% of all its energy comes from renewables (6% is the EU average).  Sweden's long term aims for energy independence are partially rooted in the 1970s oil shocks.

In related news, Exxon Mobil Senior Vice President Stuart McGill claimed on Tuesday that energy independence for the United States "is simply not feasible in any time period relevant to our discussion today."  He stated "No combination of conservation measures, alternative energy sources and technological advances could realistically and economically provide a way to completely replace those imports in the short or medium term."  McGill proposed "energy interdependence" as the solution best suited to importing nations.