> Last time the US was a net oil exporter was in the 70s

Pardon me, edited. Point being that the net oil imports the U.S. economy requires are too small to be entirely dependent on Saudi oil. As long as the KSA is selling oil, the critical factor to the American economy--oil prices--will remain roughly stable.

They are not _entirely_ dependent, no. But according to the numbers given by CNN and Wikipedia (I put links in my other comment), the US imports about 40% of its oil from Saudi Arabia.

Nope, just 9.4% in 2017.

https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0...

Actually even earlier than that: http://mazamascience.com/OilExport/output_en/Exports_BP_2017...