Part of my work is to do energy studies for schools and busninesses. My area is concetrated mostly on energy savings on lighting systems. There is a lot of innovation out there to drastically reduce energy costs associated with lightingl but the problem is the payback for using a lot of these measures can be 8, 10 or 12 years at current energy prices. I live in the south and frankly, energy costs are too low to get the payback to a reasonable time. Used to be during some of our energy crisis times power companies and the government were offering all kinds of incentives to upgrade. Today there is nothing for the average business or school district so they are very reluctant to spend the money.
Now if you want to reduce consumption of crude by 50% (by, say, a 25% reduction in fuel consumption bolstered by 25% changeover to an alternative, perhaps such as natural gas), then you have outlined a possibly achievable goal. Otherwise, this air-headed drill-our-way-to-oil-independence populist mantra that is often heard from the right is too ignorant to even contemplate.
However, this will run afoul of the over-regulation crowd (and we all know who they are), foaming at the mouth on radio and TV about the government controlling their lives, who consider it a God-given right to waste as much energy as they desire (or pollute as much as they desire), with zero regard to the long term implications for the country as a whole.