I agree with JVA that oil has inherent flaws and we must look to future alternatives. Petroleum products are bad for the planet.
On the other hand, if we have control over how oil is drilled (responsibly, using very careful new technology), and if we can supply our own needs, then we can mitigate the damage done in the drilling process. We can also return the land (and sea) to a better state afterward than most other countries can. Do you really think that Venezuela and Iran care more about protecting the environment than we do? If we are the biggest petroleum consumer, and if we insist that we will only use "responsibly produced oil," then we should drill our own.
We use 5 times more oil than any other nation, but we produce 25 times more with that oil than any other nation. I.e. - we are the most efficient consumers as well as the most efficient producers.
We should return to the lead, in oil, in solar, in wind, in coal, in oil shale, nuclear and in all other forms of energy.
We should demand that all our energy is as efficient as it can be, and that we control how it is produced and the emissions it makes by our own (high) standards.
If we are the biggest market, then why can't we make a difference?
Without energy (including all forms), we will end up without power for our computers (including BLOGS like this one), lights, or jobs.
Lets bring all our power needs (including oil) back into our own hands.