I dunno, my thought process is that high oil prices encourage oil alternatives, and the sooner we can get oil alternatives the sooner we, as a nation, can be energy independent. If we had the capacity to get our national production internally, I might think differently...but everything I have ever seen seems to say that even a best case for full internal production is < 5% of our needs.
Reliance on hostile foreign governments sucks. I think either algae based bio fuels, or full electric would be best. Well see if either one ever gets anywhere.