To answer the titular question, no. There's no correlation between how much you produce, and how much you ought to consume. Even net oil exporters should try hard to conserve oil, because every drop not burned locally is a drop that can be sold overseas.
I'm much more interested in how much it's costing us, than which countries it comes from. I'd like to see the US reverse our trade deficit, and cutting back on oil would be a huge step in the right direction. If wealthy countries like Germany and Japan can run a trade surplus, so can we, especially given our agricultural and mineral exports.
But if they meant the specific case of the US in 2015 or 2020 producing enough oil to meet our needs... it's a goal that would move us in the right direction despite being totally unattainable. We're importing half of our current needs, readily exploitable oil production peaked
four decades ago, and our population continues to grow.