The sand diggers wouldn’t have to give up their way of life. There are plenty of customers waiting inline. We have the political & financial leverage to guarantee us the largest teet.
This is why China is struggling for oil. They have such huge growth now… that if they were able to get the resources they crave (oil, and metal - to a lessor extent), they would be playing in the major leagues within a few years at most.
If we closed the Mid east spigot today, they would cry fo sho. It would be a huge blow to the collective economy, but it would not destroy it by any means.
Its really only a matter of time before they (MidEast) squander away their lifeblood, but I don’t think it’ll be in our lifetime. There is plenty of oil.
Disclaimer - this is based off of research that i did ~5 years ago, so I’m sure someone will pick it apart with Yestedays Wikipedia numbers. 
We have access to plenty of oil too… but the polar bears. Fucking polar bears.