I keep hearing over and over that the US imports all of its gasoline and raw petroleum that it used, however when you look at the numbers its the greatest exporter of oil ever. Wouldn’t it make more sense for the US to just take some that they produce and keep it to sell to its own consumers.
In: Economics
Geography and refinery requirements. It’s cheaper to import from ships o stead of building new pipelines. Also a lot of this production is newer so the pipes and refinery are set up to the opposite flow. It was a issue when fracking took off. We had more oil in area then we could move it. Making a sizable price difference.
Oil is also not the same stuff. If your refinery is set up for heavy sour Saudi oil then it may need retrofitting to convert to sweet light crude.
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