We have the technology to synthesize petroleum and it is economical enough to do now for clothes, paint, consumer plastics, and clothing. These things cost more when made with synthetics, but not substantially so.

The economics of synthetics are cost prohibitive for use in transportation and road construction. But luckily, electric vehicles will continue to reduce the need for petroleum for transportation purposes and asphalt is the most recyclable petroleum product out there. You can literally recycle it on-site.