[anigbrowl]

The United States has more oil and natural gas than any other country in the entire world, including Saudi Arabia.

Incorrect. We have more fossil fuel in units equivalent to barrels of oil, if you include coal. Without, we have about 1/5th as much oil and gas in proven reserves, but about 50% more than Saudi Arabia in probably-but-so-far-undiscovered reserves. However, the cost of recovery for those estimated reserves is likely to be far, far lower in Saudi Arabia than it is here.

Of course Saudi Arabia has no coal and we have (literally) gigatons of the stuff. But it's also the dirtiest fossil fuel we have, containing more carbon than oil and about twice as much as natural gas, and that externality increases the cost. So yeah, regulations and bureaucracy are holding us back to some extent, but regulations and bureaucracy also go a considerable way to making sure you have clean air to breathe and your groundwater isn't toxic. The mineral exploitation industry has, shall we say, a decidedly mixed record on cleaning up after itself.