The USA is letting itself get blindsided by the oil producers.
Letting the domestic oil producers price their oil at world oil prices is letting them steal the consumer blind.And when that domestic oil is not even getting exported.OIl prices are manipulated .As crooked a process as there has ever been.
It is quite obvious that you have absolutely no idea of how Commodity industries work and more specifically how oil is priced. To begin, WTI is only a benchmark off of which US oil is priced. It is for a certain grade of light sweet crude. There are all different grades priced lower. In addition, not oil is sold at current prices since a lot has been hedged, in some cases years in advance.
The current situation is based on the fact that a pipeline that brought oil from the Gulf to inland refineries (prior to the massive shale oil drilling), was reversed to send the Cushing oil (off of which WTI is priced) to the Gulf refineries, thus requiring less imports. However, now the price is the same because there is no longer a choke point. Last year they opened reversed enough pipe to start the closure of WTI Brent pricing. Recently they opened the majority of capacity which has resulted in price parity.
Go see how well price controls worked in the 70s. You are totally ignorant of history and economics. Not a good combination. The only thing that will happen with your solution is less oil produced, higher prices, and a larger trade deficit. Consider those small companies producing on the margin. They stop producing. Maybe only 5% of production maybe much more. In the end less production means higher prices.
Further that money that must now buy imported oil is no longer at home being reinvested into the economy created new jobs and supporting existing business. And remember its not just oil companies getting that money, its land owners getting royalty and states and federal governments getting taxes and workers getting wages.
And your answer is government involvement? How do you think we got into this mess with:
1-High energy Prices
2- High food prices
3-High land prices
4-High corn prices
6-Government action required
7-High energy prices