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
Because the US is a good place for oil Trading. Oil companies in the US like to buy up crude oil when the prices are low and sell it back when prices are high. We also have a lot of refineries for turning crude oil into various fuels so it makes sense to import crude and export refined.
Think of the US like a store. We have our own store brand but we also put goods from other companies on our shelves. You want to sell oil? Come to the US. You want to buy oil? Come to the US.
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