I went off on one then, and I agree
There'd be some painful restructuring and maybe some back to basics living for a while - unless it kicks off a nuclear war. In that case i'll stick with my previous stance.
Indeed, it won't be pretty, but I doubt it would be the end of the world either.
Far more realistic that we would simply enter a period of unrest and uncertainty before finally readjusting, especially Economically and Politically.
Half the world already live with Oil playing a relatively minor role in their everyday lives.