clipped from: directorblue.blogspot.com   
If Saudi Arabia were to increase its production by 1 million barrels per day that translates to a reduction of 20 percent to 25 percent in the world price of crude oil, and crude oil prices could fall by more than $25 dollar per barrel from its current level of $126 per barrel...
Of course, Schumer also claims that drilling for the same amount of oil in the United States would not impact oil prices.
[Schumer said that] drilling in the Arctic Wildlife Refuge would “take ten years and reduce the price of oil by a penny.” ...Schumer also called for an end to the speculation in energy markets that drives up prices.
What does Schumer have against oil that's produced in America?
House Speaker Nancy Pelosi (D-CA) believes that releasing oil from the Strategic Petroleum Reserve (SPR) would help.
Pelosi sent a letter asking the president "to draw down a small portion" of the SPR's more than 700 million barrels of oil...