Not sure what those huge consequences would have been. We could import oil from the US and Mexico for our refineries. It's surprising that while the US is moving towards energy independence, we are importing Saudi oil. 

Also, it is important to understand that the ideological source of a certain type of religious fundamentalism is Saudi Arabia. If Liberals stand for progressive values, as they claim to do, Saudi Arabia should be near the bottom of the pile of countries we do business with.