I think most people would survive, but some would die. Hardest hit would probably be cities that rely on food being transported in, and there would be a serious food shortages in certain areas. It would simultaneously eliminate many jobs as well, in industries that rely on oil for it's day to day operations. In some areas where the weather gets really really cold or hot, they may not have a way to heat or cool their house. Some people could freeze to death or die of heatstroke.