Research President Reagan's plan which used the Saudi's to drive down the oil prices. The main cash export for the USSR was oil and by putting the price below the USSR's cost to produce, this broke the USSR.
http://conservapedia.com/Essay:How_Ronald_Reagan_won_the_Cold_War
He used every means at his disposal, and because oil is fungible American production alone would not be sufficient to crash oil prices. The goal was to cut off the cash flow.
Note how the left has done everything possible to regulate higher oil prices. Then they turn around and wail about "corporate greed"???
Crocodile tears.
See Energy Racketeering: The Natural Resources Defense Council (NRDC)