Not unrelated, Krugman's Op-Ed:Natural Born Drillers (March 15, 2012)

The irony here is that these claims come just as events are confirming what everyone who did the math already knew, namely, that U.S. energy policy has very little effect either on oil prices or on overall U.S. employment. For the truth is that we're already having a hydrocarbon boom, with U.S. oil and gas production rising and U.S. fuel imports dropping. If there were any truth to drill-here-drill-now, this boom should have yielded substantially lower gasoline prices and lots of new jobs. Predictably, however, it has done neither.

Why the hydrocarbon boom? It's all about the fracking. The combination of horizontal drilling with hydraulic fracturing of shale and other low-permeability rocks has opened up large reserves of oil and natural gas to production. As a result, U.S. oil production has risen significantly over the past three years, reversing a decline over decades, while natural gas production has exploded.

Given this expansion, it's hard to claim that excessive regulation has crippled energy production. Indeed, reporting in The Times makes it clear that U.S. policy has been seriously negligent -- that the environmental costs of fracking have been underplayed and ignored. But, in a way, that's the point. The reality is that far from being hobbled by eco-freaks, the energy industry has been given a largely free hand to expand domestic oil and gas production, never mind the environment.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman

Now the paper of record has jumped on board:

U.S. Inches Toward Goal of Energy Independence

Declining oil consumption and new energy production have brought the United States closer to a goal that has tantalized presidents since Richard Nixon.

... And not just here. Across the country, the oil and gas industry is vastly increasing production, reversing two decades of decline. Using new technology and spurred by rising oil prices since the mid-2000s, the industry is extracting millions of barrels more a week, from the deepest waters of the Gulf of Mexico to the prairies of North Dakota.

They cite 'optimists' who predict a return to 10mb/d for the US. Even if that were to come true, nowhere in the article do they mention that the US uses 18-19mb/d. The lack of elementary facts and math skills is breathtaking. These suckers don't know anything! Recycling the conventional wisdom that originated in skillful propaganda (100 years of gas!) is not journalism.

_{Schengen is toast!}