opening the strategic oil reserves and building refineries with tax payer money, and leasing them to operators will go way further. the minute the US announces we will not buy oil the price will drop dramatically. the minute the US announces we will build refineries and lease them to operators the price will drop even more.
additionally, announcing that we will pour 20 billion a year to make coil-oil and carbon sequestration a reality will drop the oil even further.
those 3 announcements done 1 week apart plus a stop to oil speculation by imposing huge limits on margin except for airlines and other real industries will bring oil down to normal levels.
All it takes is a few simple announcements. way easier than drilling.
way better then to play to the oil companies greed

ps: why can't the airlines get the same sweet deal on fuel as farmers do with their "red diesel"?