Reducing foreign oil is a huge canard. We don't use foreign oil to provide electricity and there is a natural gas glut and a predicted long-term huge supply of it.
Our biggest use for oil is in transportation. The only thing that will reduce foreign oil is more drilling and production here.
And even that won't change the amount of oil purchased by other countries from the cesspools that hate the United States and the West, ie, the Islamderthals. Oil is a fungible commodity.