Oil is sold on the world market. If we are not paying top dollar for it (wherever it is extracted), then it goes elsewhere, not here.
So, our choices are 1} have the most expensive energy or ... 2} nationalize energy resources, keep what we consume here and control the cost internally and be “energy independent”.
I’m not advocating for nationalizing energy. I don’t think we should. But I’m asking how can you be “energy independent” if you do not do this? The only other way to be energy independent is to pay the highest price for the energy.
Oil is sold on the world market. If we are not paying top dollar for it (wherever it is extracted), then it goes elsewhere, not here.
................
Currently US law forbids the export of raw oil. (However, refined gasoline is allowed for export.)
That’s what keeps US oil below international prices.
However, starting sometime after 2020—the USA is going to experience serious demand destruction because of the change over from oil fueled houses, trains, trucks and buses to natural gas fueld houses trains trucks and buses. More important will be the change over to electric cars.
These two developments after 2020 will eat into demand for oil and force prices down.