Yes, their is existing technology that would allow us to stop using oil (gasoline) in vehicles immediately. This technology has been around for 100-years.
It is called the Steam Engine.
The Steam Engine went though many stages and was always rejected by the public.
The primary reason people don't like the steam engine is that the boiler (the mechanical heater that coverts water into steam) takes too long to heat-up.
Most of the previous models developed over the years used kerosene or diesel fuel to heat up the boiler and maintain steam.
However with new technology available this can be almost instant by using propane as the boiler fuel.
The boiler converts water into steam and powers the car.
In addition to eliminating our need for oil (gasoline) to power cars, this would also mean we would no longer need a catalytic converter and would not pollute the environment. The pictures below show the evolution and final downfall of the steam powered automobile.
This needs to be brought back immediately.
1950 Plymouth introduces the steam powered engine model.
1960 the Keen Steamliner
The Besler Steam Powered Car, circa 1960
Original 1962 Vagg Steam Powered Project Vehicle built in the UK.