Those shale oil sands in Montana have always been accessable, it just historically has cost more per barrel to touch them than building a standard well. Now that the prices are so wonky its finally cost effective to start extracting them. That and the fracking process which really does need better regulation given what chemicals they are using to do the process if nothing else. But essentially the U.S. is sitting on the worlds largest reserves of natural gas. The problem is that until very recently it wasn't really good for much aside from small scale power generation and heating homes. our oil production has increased dramatically due to offshore drilling in wells we now have the technology to access due to deep sea ROV's (can access, doesn't mean should access). Many of those permits were approved in the Bush era, though most of them didn't start prodicing until well after Obama was in office.
We're also using less. Road construction nationwide typically consumes a fairly large fraction of our crude oil output. Newer asphalt mix tecnologies allow us to greatly reduce that amount by reprocessing the old asphalt and using a denser rock mixture that wears longer. Most of the cars on the road now also have at least the 1986 grade emisisons controls and fuel efficiency measures, which has reduced the amount of gas per vehicle needed across the board from the 1970's. At the same time reducing the amount of gas tax allocated for road repairs and doubling the miles traveled wear and tear, but thats another story entirely.
Cotton tree biofuel as a supplement also looks like it will be viable and coming online in large quantities by 2020. There is also the massive wind turbine farms springing up all over the west coast, solar plants in the midwest, possibility of new Nuclear reactors (come on, someone build a damned thorium reactor already!) and the national ignition laboratory has a laser theoretically capable of igniting a fusion reactor for the first time in history. We are even starting to see improvements in storage technology finally (carbon nonotube elctrode impregnated lithium polymer batteries, etc) and deep cycle storage (thin cell molten salt storage turbines for wind farms that actually work). All that coupled with increasing vehicle efficiency, decreasing number of vehicles on the road due to economic craptitude, drastically improving electrical device efficiencies, the fall of the CRT monitor, and better grid control technologies and improvements are leading to a fairly large electrical and chemical energy surplus. Once electrical vehicles reach practical "miles per gallon" storage efficiencies to accomodate 300 mile single charge driving radius and 5-10 minute recharge times expect a huge shift away from all gas vehicles to at least hybrids or electrical cars. When that happens our production surplus will grow considerably. Despite several disasterously bad choices in the solar energy backing arena, we are starting to see production solar cells literally printed from glorified inkjet printers at a price per watt point that makes them actually affordable. There are several roof systems under test right now that essentially consist of solar ink impregneted roof shingles on a conductive matrix. Expect to see them available for purchase around 2020 - 2025
More and more manufacturers are also beginning to use bioplastics. Polyvinyl chlorate and urathane based plastics will continue to make up a large amount of our oil use for the forseeable future, but many of the esther based plastics can now be produced from algae or plant residue in usable quantities, and nationwide recycling initiatives and enhancements in separation plant designs are leading to more reuse of the other types of plastic than has been historically feasable.
The point of all of that? our population is remaining fairly stable, which means our domestic needs aren't really rising all that much. At the same time what our existing population requires is decreasing, and what we are able to extract is increasing. So yeah, I don't think it's too much of a stretch. The problem for years to come is going to be China, which hasn't really figured out that whole energy efficiency thing yet.