The oil companies are not making what you think. You are actually making money off yourself. The majoraty of the oil stocks in the US are owned by you. Your 401k and 403bs are the largest holder of oil stock in the US.
My stepdad makes .01 cent per gallon sold and the oil company ( BP ) makes less than a $1 per gallon sold. Yes the oil companies show a profit but it also cost a ton to keep the oil flowing.

The reason they can't drill off the coast is a bill that was passed during Clintons run. Bush just reversed that but it will take years to build up new oil wells.