I agree that cutting off the flow of oil derived wealth is the likely solution to most of the terror. Many Arab countries might be better off if their oil disappeared and they were forced to develop real, balanced economies that involve manufacturing and trade - like Turkey.
If oil wealth were to evaporate, Iran in particular might become a surprizingly liberal democracy, with a secular basis. Supposedly, less than 25% of Iranians see religion as the dominant influence in their life. The best way to kill religion is to enshrine it as the government itself. That's why Americans are still religious and Europeans ( mostly) aren't - the failure of state sponsored religion. Even as I say this about oil wealth and terror, I realize that there is also some frightening evidence to the contrary. The Wall Street Journal published details, some time ago, about Bin Laden directed groups operating on a shoestring, with agents barely living on part time jobs while they plot murder. In addition, Atlantic magazine wrote about interviews with young Muslim men in Europe, who complained that they "felt like nothing". It isn't politically correct to talk about this - but I think it should be clear that the ugly contrast of a prosperous and advanced Western world while Muslim countries are often miserable AND Muslims elevating themselves into the Favored of Allah ( with all others being infidels) - creates hate filled fantasies to explain why their culture is so backward. "Jews", "The Great Satan" and infantile conspiracy theories take the place of harsh self analysis and change. You see this sort of sick "reasoning" everytime Indonesia has a tsunami. Things don't get any better as the 'idol-worshipping' Indians are finding prosperity. I hope that Doha, Qatar and other efforts give Muslims something to take pride In. Otherwise, a lack of oil money may not do the trick.