Palin keeps repeating the widely used talking point that more domestic oil drilling will somehow magically lead to greater US energy independence.
It will not. Why? Because oil is a fungible commodity. Any oil pumped here will only be sold on the world market to the highest bidder. True, additional oil production anywhere in the world is likely to depress global prices somewhat. But since we do not have a nationalized oil industry, all of that US oil does not belong to America. It belongs to the oil companies that pumped it. And they are not going to, for reasons of pure charity, decide to sell gasoline to Americans for $0.89 a gallon rather than sell it to someone else in the world for $4.00 a gallon.
If you want to increase energy independence, you need to come up with sources of energy that are not as fungible, that are not as easily transported and sold to other countries. More domestic oil cannot posibly help—unless we get into a world war, get blockaded, etc., and the govt. DOES nationalize the industry.