If I understand correctly, there isn't enough oil in our own reserves to supply our demand.

1.2 billion barrels sounds like a lot, but the US imports more than 3 billion barrels per year.

I believe this is the primary reason that the legislation isn't supporting exploiting our own oil reserves. Our reserves are there for a reason - they are our reserves. Once they are burned they are burned.

Think of a day when the middle east runs out of oil. Or stops supplying it. Or Russia takes over. Or China takes over. Or if something bizarre happens in foreign politics that isolates the US from any friendly source of oil. There has to be enough to pull us through war, diplomacy, whatever it takes. Our oil reserves are basically a savings account that never goes away, until we use it. It would be a really bad situation if we had nothing to fall back on.