It increases because we've become less productive and the trade and budget deficits combine to devalue our currency.
Wow!! An extra 1 million bbls/day will cause our currency to be devalued? That will have a larger effect than an extra 2 million bbls/day sloshing around the world oil market? Interesting theory with no basis in fact.
How about if we produced all 16 million bbls a day we consume and then the Saudi Arabia's oilfields and pipelines were destroyed. What happens to the price of our oil?