This is an economic war. If we had the right people in office, they would break the Saudis hold on world energy.
Subsidize our producers until the Saudi economic terrorists quit.
You are correct...this is not a market driven event, it is an economic war. They need to break the back of the marginal i.e. high cost new production market in the US. We are not yet energy independent and with this we will not be for a while, perhaps ever. This is not going to be a quick war as it will take time to drive these firms out of existance.
Just put a tariff on imports to establish a price floor, and reduce the tariff if the price increases. America keeps working, the treasury takes in money, and for at least a range of prices, people can plan what fuel will cost.
Saudi wells break even at about $10 per barrel.
USA wells, specifically new wells, break even at $60 or higher.
Economically, it would make more sense for the USA to bomb and completely destroy the Mideast oil fields.
Then, we could sell our oil for $500 per barrel to foreigners and easily subsidize American citizens.
Of course, American oil reserves would run out after a few weeks, but Obama could solve that problem with an Executive Order.