Our refusal to drill our own oil gives them this weapon. We could 'disarm' them in a space of a few years if we really wanted to.
The question is, why don't our 'leaders' want to?
While the price of oil would be reduced a great deal, they would still be raking in cash by selling to China and other industrialized nations with little or no oil production.
They were the same with oil at $20 a barrel as they are at $100. Jihad is not very expensive.