How do you know the supply is going to stay the same?
Assuming it does, when the price reaches a point where other viable options become equal or lesser in price than dinosaur oil, then people will start switching to them. To try to get people to switch by artificial means is very difficult, if not impossible.
To be independent…first we would need to replace that ~20% coming from the Arabs, next comes that unsavory character Hugo Chavez and his cartel. I think they may hate us as well.