America's elite don't want to exploit America's oil reserves like that. They prefer to keep it all in reserve for THEIR future. The rest of us will just have to fuck off into poverty by buying up foreign oil with regressing dollars.
Remember, Billy Bob Clinton didn't want to drill for domestic oil in the 1990s since he viewed it as HIS oil. He and his elite class of rulers will go get that oil when they're damned good and ready to do so. Until then, we're going to look like fucking Indonesia from sea to shining sea, with hordes of desperate poor punctuated by the walled and turreted estates of the hyperrich.