Less than 2% of the nations electric is generated by oil.
Oil, coal, we could easily replace them all with a few nuclear power plants. The problem is our old and crumbling electricity grid, under attack for decades now by enviro-terrorists, is already overtaxed, and needs to be upgraded and expanded to meet our near future needs, and it has to start happening yesterday.
As far as oil goes, we use it for many things, plastics, industrial products, and of course automotive. We can only reduce that demand by so much, but we can compliment it with biological based fuels, which will extend our own supplies of the earth’s Abiotic oil production far into the future.