If we stopped buying oil, and the far East started using methane hydrates, the current oil producing nations would be hurt very badly.
They also made the point that the oil dollars flowing into those States distorted they economies,and set them up to fail long term. In other words, a nation that is a boom town.
Not as nuts as it sounds.
You sir, win the Bill Maher award: “Liberal Bullshit”
From a long-term geopolitical view, I don’t see it as bad. For centuries, the Arabian Peninsula was more akin to the Middle Ages than the rest of the civilized world. Sand, camels, harems, tribes, etc.
Then came oil. Entire world strategies had to be devised to protect the oil. Lives and treasure were expended for that oil.
Their culture cannot, nor will it ever, support a Western-style government as long as their cult (some call it a religion) holds sway.
If the west becomes energy independent, the region will again revert to the Middle Ages, which is where they belong.
I see no downside.
Those countries don’t give a damn about us. Who gives a Shiite what happens to them? Those people take our money and rape and kill us!
Free market capitalism kinda works that way.
Payback is gonna be a real bummer for them.