I would also add, there is money to be made in many other commodities as well as in the equity markets. The incentive to speculate on oil isn’t as readily present as it was back in 2006-08. This is a small part of the current problem. The real cause is a recoverying world economy squeezing demand and unrest in the Middle East. If the US had more of its own supply, those factors wouldn’t be having such an impact here in the US.
You had me right until the last sentence. As I said, it's a global oil market. So, even if we obtained our oil only from our own natural reserves, the price of that oil would be entirely dependent on the global oil market.
There are some additional transportation/logistics costs associated with oil importation sure that would be largely eliminated if we only used US oil. But, remember that our two largest foreign suppliers of oil does not come from the middle east, but rather from our neighbors to our direct north & south.