Do you know why he said that? He said that if we aren't paying that much people won't get their head out of the sand and actually do something to address the long term issues of our energy demand. The longer gas stays cheaper than other fuels, the harder and more painful the transition will be.
Drilling is not a long term solution to the entire problem of energy demands.
Ignore globally warming for now, because it doesn't matter in this debate. China, India, Russia, Saudi Arabia, and ex-soviet state are quickly modernizing. Their demand for oil is more fierce than ours (we've actually lowered our demand) because these modernizing countries do not have the tech or infrastructure to support other fuels to keep their economies growing without more oil. Thus, global demand is raising faster than ever before.
This means, even if all peak 9all oil) US oil production is reached, the inevitable is only delayed for, at most, about 10 years, then we are exactly back were we are right now and NOT any better off for it. In fact, we are worse off because we would drain our reserves while destroying arable land for years.
Any country that drills for oil without also investing in smarter energy is woefully short sighted.