That there are vast deposits of oil in American territory is well known. That much of that oil cannot compete economically with cheap ME oil is also well known. Even should the price of oil go above $100 or $1000 it would still not be able to compete economically since ME oil is Easy Oil and tar sands oil and oil shale oil are not Easy Oil.
The Middle East is only capable of supply about 1/3 of the worlds consumption of oil. It doesn't matter how cheap they can make it when the consumption is far greater than their supply.
Interesting. It sounds like from reading that link above that Israel is trying to get oil shale and it may be more affordable than we think.
"With oil prices hovering around $70 a barrel, Israel is looking for ways to reduce its near-total dependence on energy imports. It's pondering the use of the nation's huge reserves of oil shale — a dark, crumbly rock loaded with hydrocarbons — located in the central and southern parts of the country. Thanks to a technical breakthrough, it should be possible to extract fuel oil from the shale for less than $20 a barrel."