You miss a very important point in your lengthy (and informative, too) post. Under what circumstances would oil cost $300 per barrel, and how would that relate to the information you posted?
I contend that oil is far more likely to cost $300 per barrel if all of it is produced here in the U.S. than if we import 100% of it from foreign sources. Just think about that for a second, and ask yourself why importing large quantities of oil is such a bad thing for us.
Dollar drops in value. (Demand for dollars falls).
We have huge quantities of untapped resources from Alaska to the OCS, and the Shale Oil deposits in the Western Slope of the Rockies. Are you saying that our oil companies if allowed to fully exploit those resources would suddenly feel free to charge more per barrel for new discoveries over and beyond the prices of their current domestic production?
I think it more likely as our production as against our demand shrinks, we lose bargaining leverage in the global market, particularly as against coercive players in that market, such as OPEC, and China etc. If we could ramp up production that would lower their ability to dictate terms, and hence a lower equilibrium price would result.
I like your tagline. It's becoming a common theme with a lot of guys I know.