The idea that having an oil boom in your back yard doesn't boost your economy because the final product is subject to laws of supply and demand is a rather ridiculous definition of "benefit".
Oh wait. There is one way to screw it up. Nationalize it. Just like Venezuela did, which is why they went into an energy crisis.
Any time you significantly increase supply, you relatively lower price.The funny thing with this situation is that if you explain this to "drill, baby, drill" proponents, they will think you are the devil incarnate for wanting to nationalize anything, much less an oil corporation. They believe this, while hoping for lower prices at the gas pump at the same time, which is kind of schizophrenic.