Despite U.S. development, there are still plenty of foreign imports to displace from the U.S. market. Growing economies in Asia could use those barrels from Saudi Arabia or Algeria much more than the U.S. could. Canadian production has the opportunity to displace those barrels. The U.S. is a major consumer of oil, and there's still quite a lot of running room, despite the increase in production out of the North Dakota Bakken, for example.
On April 1st, 2014. See this statement in context.