More profit for US oil companies, but as a massive consumer of oil and oil derived products it means higher prices than necessary across many large sectors of the economy.

Yes: good for American oil producers; indifferent for American oil consumers.

Even for American oil consumers, doesn’t fewer imports imply an expectation of greater stability going forward, since the price is more dependent upon just this country’s happenings, and less dependent on the happenings inside other countries?

Or can it be argued either way, e.g. that if the production was spread over more countries the prices would be less dependent on any one country in isolation?