I thought the US was now a net oil exporter?
I assumed that meant we (America) produced enough oil to take care of ourselves….but we have to buy still half our oil. We either are an exporter, because we have excess or we are an importer, due to we do not produce enough…
Which one is it?
Neither! And that’s the problem…
The US consumes just short of 20 million barrels of oil per day. Recent figures show the US produced a record 11 million barrels per day. Do the math. The intentionally uninformed like to claim the US is energy independent because we produce more energy than we need, fail to realize and or care that figure includes all or most forms of energy such as coal and gas which a lot of gets exported. To the detriment of our own people in price and availability…
Canada supplies 40% of our oil. Saudis 9% with smidgens from dozens of other countries. The rest that we use is home grown. In 2017, the United States imported approximately 10.14 million barrels per day (MMb/d) of petroleum from about 84 countries…
So it seems to me that if we had our act together, we would be self-sufficient, with the exception of minor needs for different blends of oils from the world…
Thus, I seem to miss the boat with understanding. We do not produce more than we need. We produce about half. But we sell a bunch to the rest of the world and then buy from other countries, because we sell all of our oil, gas and such….We seem to relish in the fact that we sell our production of gas and oil and then turn around and buy it all back, because we would not have anything to run our country on…
Kinda seems to be stupid is as stupid does….twist it how you want, but playing with numbers to achieve a result that makes people happy to look at, is not the answer….GDP is part of the game and it is false GDP…
We still import a gosh darn bunch of oil…
WtR