There are several reasons we should drill domestically:

Oil prices are based on supply and demand, increasing the worldwide supply, prices drop

Oil field workers are highly paid, why wouldn't we want as many highly paid American workers, working in American?

The Fed and various State governments collect royalties on oil, why wouldn't we want to reduce our personal tax burdens by having part of the cost of oil going to the US fed and state governments vs. foreing governments?

More importantly, what compelling reasons do have not to increase domestic production?