"We would be totally free of dependence on other countries for oil! That would be incredible."
That would mean quite a legacy for W if the Repubs were smart enough to push it.
Right you are. Another element in cost analysis is the savings in military costs. Without being dependent on foreign oil our entire foreign policy could change. We would not really need a military establishment at the level it now is. I'm pro-military but I would like to see them all home and defending only the U.S. and its' territories. The need to project power would be drastically reduced. The savings would probaably be on the order of 75%. Lots of bucks. Energy independence is, IMHO, a national security matter of the utmost urgency.