"The idea that you can 'pump' your way into independence from foreign oil, given the sorts of demand pressures we are looking at and given the best-of-all-worlds estimate for what can be exploited domestically... Well, its rightist propaganda."
If anything, it's lefty propaganda. Who saying we have to be completely independent- why not be 25% or 50% less dependent.
Instead of 700 billion going to a trillion dollar being paid out; why not try to have it in the future so it's NOT an ever increasing amount and turn it around so that in 10 or 20 years we are spending, say *only* 1/2 trillion per year importing oil.
"At best, by pulling out ever stop and exploiting every last drop of domestic crude, we could maybe alter the price of oil by about $5-10 per barrel, and only 10-20 years from now. "
Let's say your "estimate" is correct. What is the reason not to pull out all stops? Or let's say it's only drops price by $2 per barrel, why not do this?
What is rationale for saving oil for use in 50 or 100 year from now? Or never using it?
Do we want the oil in order to drive historical cars 100 years from now at a time when it's "ancient" history to use gasoline to drive cars?