Because the oil isn't ours to keep. It belongs to the people that paid to have it extracted from the earth and they are free to sell it to whomever they choose.
Are you suggesting a govt take over of the oil industry?
It won't ever happen but yes, the US government should have retained all rights to US oil and gas on federal lands, and developed a government oil industry, bottom to top, to find, extract, refine, and sell or use that oil.
Constitutionally justified as a national security interest.