> We'll still need oil Sure, but not nearly in as large of quantities. If the value of saudi arabian oil plummets to 1/4th its value, then they are still scre

> We'll still need oil Sure, but not nearly in as large of quantities. If the value of saudi arabian oil plummets to 1/4th its value, then they are still screwed, even though "oil is still used as raw materials" and it has non-zero value. Owning something that is almost worthless isn't really much better than owning something that is literally worthless.