That 4 points demonstration of yours seems rather simplistic, but I imagine that was the poet speaking here, not the engineer.
As well as not being the only source of Islamist terror (although it's certainly the mother of all propaganda and activism funding), Saudi Arabia is not the only oil supplier.
Pakinstan comes to mind as far as militant Islam is concerned, and I don't believe that switching our V8 powered wonders for humble bicycles to save on our oil purchases will help us in any way. Pakistan's oil production is… Wait, are they producing anything anyway? (yep, besides black market nukes of course)
In fact, it may very well have the opposite effect. Our current state of technology doesn't allow us to give up on "their" oil yet. The "yet" is important, because thank to the genius of Capitalism, we're heading towards alternative sources of oil that are not in the hands of our enemies and viable alternative sources of energy that will be born out of scientific research, rather than hippy sweet dreams.
It means that if we were to acknowledge those "inconvenient facts" of yours, we would have two options: scaling our economic activity down or compromise it with the extra burden of costly alternative energies (which would ultimately result in effectively scaling it down). Not exactly something we can afford in this time of war, and not something I'm willing to accept anytime.
Eventually, the inconvenient facts this calls for recognition is, in my humble opinion, the following: the Saudi regime is corrupt and bankrupt. There has to be a regime change down there. If possible, right now. If not, well, say... Yesterday then.
To precipitate this regime change from outside - and in addition to the political example of democratic society that the Coalition is helping to build in Iraq - finding alternative sources of oil and *viable* energy alternatives would help a lot indeed. (And oh, please, let's not forget that "alternative" means that it costs the same, and offers the same output. "Better alternative" meaning that it costs the same or less but offers a better output. I have no use for "lesser alternatives". I'll let that to the aforementioned hippies. Period.)
So here comes the inconvenient fact I invite you to recognize: if it gets to the point where our progress in this war and our way of life and prosperity as a whole are so seriously threatened that we may fall down to the darkness where they lurk, then we'll need Western tanks and troops seizing Saudi oil fields. Nothing less.
If it gets to that point, I have no problem with that. I'm not going back to the Middle Ages, and I'm not going to accept the return of gas rationing coupons "“ I don't know where you're from, but I have memories of my grand-parents mentioning this kind of "down sides", during another war.
Whatever it takes, but I'm not going there.