…drilling alone cannot possibly ensure energy independence in a country that uses one-quarter of the world’s oil while owning only 2 percent of its reserves. Nor can it lower prices, except at the margins. Only coordinated measures — greater auto efficiency, alternative fuels, improved mass transit — can address these issues.

Still the oil industry and its political allies persist in their fantasies.

The Return of ‘Drill, Baby, Drill’ – NYTimes.com