The search for a source to replace oil has been researched for decades...The problem is finding one as cheap or efficient.
If we reduced our dependence on ME oil it would not deprive the ME of income...there are many countries who would still be buying it...It would be cheaper, thus helping the economy of other countries.
The article is far from an original idea...We will get truly serious about energy other than oil when the oil is not available...and we, the consumer, are forced to accept the added cost.
I am afraid you are correct.