We are able to synthesize methane from electricity+air with high-enough efficiency to use it as a chemical source. Some exotic stuff like asphalt might be difficult to synthesize, but most uses should be replaceable with a methane-based synthesis. Theoretically we could start a tax that progressively dis-incentivizes crude oil and natural gas extraction, but this is going to be hard unless US, EU, and CN agree on this, because the economic advantages of operating a refinery that stamps "synthetic" on their fossil products would be massive.