So we are producing 13.6 mbpd of crude. We consumer 20.3 mbpd. We claim to be a net exporter.
How does that work?
EconomistWithaD on
Net exporter means exports minus imports; not consumption versus production. We import heavier crude, and export lighter crude and refined products.
Now, we are a net producer of total energy (more energy produced than consumed), but that’s not oil alone.
discgman on
For Obama to pass his Climate legislation, republicans insisted that he remove the cap on domestic oil exports. Now the US exports almost 100 percent of their oil and gas and relies on oil imports from foreign nations.
”
* **The Context:** Following the 1973 Arab Oil Embargo, Congress passed the *Energy Policy and Conservation Act of 1975*, which effectively banned most crude oil exports to ensure domestic supply and price stability.
* **The Change:** By 2015, domestic production had surged so much that U.S. refineries (mostly designed for “heavy” oil) couldn’t keep up with the surplus of “light” domestic shale oil. The repeal allowed U.S. producers to sell crude oil to any country without a license, except for sanctioned nations.”
Sufficient_Fig_4887 on
The very very basic answer is not all crude is created equally.
This is my very low level understanding We produce a very specific type of crude that we aren’t using in our refineries, one of the reasons we like Venezuela so much is that they have the type of crude that we like in our refineries.
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[North American Rig Count, Drilling and Frac Spread Count Data](https://oilprice.com/rig-count)
So we are producing 13.6 mbpd of crude. We consumer 20.3 mbpd. We claim to be a net exporter.
How does that work?
Net exporter means exports minus imports; not consumption versus production. We import heavier crude, and export lighter crude and refined products.
Now, we are a net producer of total energy (more energy produced than consumed), but that’s not oil alone.
For Obama to pass his Climate legislation, republicans insisted that he remove the cap on domestic oil exports. Now the US exports almost 100 percent of their oil and gas and relies on oil imports from foreign nations.
”
* **The Context:** Following the 1973 Arab Oil Embargo, Congress passed the *Energy Policy and Conservation Act of 1975*, which effectively banned most crude oil exports to ensure domestic supply and price stability.
* **The Change:** By 2015, domestic production had surged so much that U.S. refineries (mostly designed for “heavy” oil) couldn’t keep up with the surplus of “light” domestic shale oil. The repeal allowed U.S. producers to sell crude oil to any country without a license, except for sanctioned nations.”
The very very basic answer is not all crude is created equally.
This is my very low level understanding We produce a very specific type of crude that we aren’t using in our refineries, one of the reasons we like Venezuela so much is that they have the type of crude that we like in our refineries.