The oil products are needed by many industrial processes.

My secret suspicion is that Trump knew of Israel's attack on the Qatar/Iran natural gas in advance.

If the Persian Gulf is closed for a long period, shale oil in North America will do very well.

Israel also has new natural gas reserves that will be in high demand.

Is the loss of market share of the Persian Gulf nations an unintended side effect?

Full solarization will not eliminate our need for fossil fuels. But it would reduce it so dramatically as to render our current market unrecognizable.