How To Make Oil Cheaper
With China out of the picture, demand for oil would drop significantly and the prices would go down with it.
Our nukes would be better put to use on North Korea to be honest so we'll rule out bombing China.
Seriously though; a boycott on Chinese goods (voluntary, not government mandated) would cause the Chinese demand for oil to drop since their production would drop and the price of oil would follow.
Along those same lines, our government needs to step aside and let interest rates rise up to natural levels which will also slow demand for Chinese goods.
I suppose we could also invade Venezuela and just take their oil. Hugo Chavez hates America so that seems like a good enough reason to knock him off.
We gripe and complain about the cost of oil yet we don't seem to have the political will to kick OPEC in the balls and make demands of them.
Now with this stupid LOST treaty, any oil in international waters pretty much belongs to the UN.