The world is run on oil. When oil prices become unstable, the world economy fluctuates. Energy, manufacturing, and transportation all rely on black gold. More reason to shift towards alternate energies, correct?
Right now, oil is priced by the American dollar. It's why it's so cheap in the states.
http://www.agitprop.org.au/nowar/20030609_...il_equation.htm
A shift towards alternate sources would undoubtedly knock out the dollar as the de facto global reserve currency which has, since the 80s, propped up the US economy to the way it is right now. Foreign investment is the reason why Americans can enjoy being Americans while living with a 6 trillion dollar debt and a growing trade deficit. It's not only about the oil industry but also the American way of life, aka national security.