Military jargon. Refers to the use of a combination of anti-personnel and incendiary ammunition, especially in the use of artillery. The anti-personnel ammunition-such as high-explosive artillery rounds-deal with infantry, while incendiary rounds destroy enemy equipment and ammunition or fuel stores as well as setting fire to nearby tents, trees, and other surroundings.
During the war we did a Shake and Bake on an enemy fuel dump; you could see the burning gasoline for miles!
Derived from the combination of the words moe and diabetes, moebetes is an emotional condition in which anime fans are exposed to such great amounts of moe cuteness that they end up with constantly high moe levels, similar to how a diabetic has high blood sugar.
Similarly, one who suffers from (if you can call it suffering) moebetes is identified as a moebetic
"Hello, I'm Wilford Brimley, and I have moebetes"
--Wilford Brimley, shortly after watching the first two seasons of K-on! back to back