I will tell you exactly what is happening.
In 2015 the US repealed a law that prevented US oil from being sold overseas. So, it doesn’t matter how much more we drill if we just ship it overseas.
I remember that. That was dumb.
“We” don’t drill; those who do sell their product to the highest bidder.
You don't have a clue about how free enterprise works...do you...
What do you think costs more...the US shipping oil overseas and the overseas producers shipping there oil here?
or selling it locally and cutting out the middle man ....
I think you're missing something if you never understood “Economics 101”....but I welcome you opinion as to what is happening in the US....