All the more reason to not squander a finite, precious resource to generate electricity.

Not really. If we only need it for petrochemical products, like medical plastics etc, losing 20% of available crude globally is a non-issue.

We can probably stand to use a lot less plastics too. Outside of medicine it's mostly replaceable, and reducing our usage to less than 80% of current usage would be trivial if we didn't burn it for energy.

In that scenario Iran can keep their strait. We won't need them.

Not really. Needing 1MM barrels gives you a lot more independence than needing 100MM.