Refineries are running at full capacity, they have been for years. If we had all the oil in the world it could not be refined for the market any faster than it is now. We do not need more oil we need more refineries and less EPA government regulations. Then the price would fall.
Had dinner last night with the daughter of the head honcho at one of the main, off-shore refineries for a U.S. oil producer. She said that her dad has often said that the US is awash in oil; the problem is in overcoming the obstacles erected by the pseudo-environmentalists to further drilling.