In all honesty, without oil, they pretty much would be in the 8th century in a lot of OPEC nations.. Yes, they have banking, and resorts, but without the oil money, they would be the backwaters of some empire, as they have been for much of the last Millenia.
As to alternative energy. The problem is that each proponent of some tech usually believes with a fanatical twist that their system is the solution for all energy troubles.
BioDiesel can cut back on out PetroDiesel needs. But due to its cold temp properties, it will not totally eliminate PetroDiesel.
Ethanol, can supplement gasoline, but will not totally replace, mostly for cold start reasons.
Methanol is the same, but to a greater extent.
Hydrogen is a VERY inefficent method of making fuel, unless you are just trying to make a portable system that is backed up by Hydro or Nuclear to generate the Hydrogen.. Because other than Hydrolosis, guess where most H2 comes from? Petroleum and Natural Gas...