Why Aren't Oil Companies Drilling? (CBS Evening News reported that US oil companies are only exploring one-third of U.S. land they have rights to)

Restrictions by congress. Did you know that all the oil from AK goes to Japan and not to ourselves?

this is like the diamond industry, if they flood the market they can't justify extreme prices and record 5000% profits, and gouging. they are keeping their future interests

Oil companies are exploring "leases" that are the most promising first. Exxon is following the competition by paying dividends to it's investors, true

The government is not in the business of selling leases for "mineral rights" without allowing them to be developed. However, the oil companies are actively developing the promissing area's of these leases.

Cause the oil companies want max profits. That is why.
They will drill - when they are good and ready.

That is why they let all of that leased land to sit.

It is not about jobs to them.
Consider that "Exxon-Mobil's earnings last year were a staggering $45 billion - the largest corporate profit ever. While Exxon is increasing its spending on oil product by $3 billion, it is pumping over 10 times that - $35 billion - back into its stock, shareholder dividends and cash reserves. At a time when America needs more energy, needs more oil, Exxon is raking in record profits and stashing away $35 billion".

Like the man said "Big oil is swimming in profits with money drained from the pockets of American families," . "In the meantime, they're doing little to alleviate future oil shocks."

Congress restricts them, lets them explore but will not let them drill so that they can blame everything on the 'evil big businesses' rather than taking the blame themselves (where it rightfully belongs).

The worthless talking heads in the mainstream media have long ago quit speaking truth to power, they are on power's payroll now.

How else can they keep the peices artificially high?

"Man has dominated man to his own injury".

This is and always has been the big myth that if they just drilled more the price would go down. The sad truth is if they could get away with charging you per breath that you breath the bastards damned sure would.
I believe that is on the way too by depleting the earths atmosphere of freely breathable oxygen so they can in turn sell you an oxygen generating machine or worse, rent the damned things at sky high pricing. It'll have a chip that automatically either shuts it off or decreases the needed supply until you have enough credits in your oxygen accounts. If your broke you die..simple as that.
If anyone doubts some company hasn't already had this on the drawing board then I suggest you purchase a bridge to nowhere ASAP.

Over-reaching nonsensical government regulation.