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 someone is lying to you. The US dose not import gasoline, or refined petroleum products.
The US dose import about 6 million barrels of oil a day. While exporting about 3 million + 6 million of refined petroleum products like gasoline. The reason for the imports is because all oil is not the same. The oil that the US imports is heavy crude. Heavy crude is very hard to refine and requires a very advanced facility. So the US imports heavy crude and uses it’s advanced technology to make it into refined products, while it exports supper light crude, which can be refined with 1800s technology, to places that do not have the technology and infrastructure to refine heavy crude.
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