The guy who formerly owned my company was big into energy policy (we have multiple data centers with electricity bills well over $1k a day). He sparked my interest into the whole debate and that's how I've come to my conclusions: a lot of reading and a lot of sifting through bullshit.
I think most Americans equate oil with gas prices, which is fair enough, but oil is used for just about EVERYTHING in our lives. I think we should save any reserves we have for when we REALLY need it. Not when we have a bunch of people who cant fill up their SUVs for $40 any more. That's my ultimate point.