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    The US is the world largest EXPORTER of OIL – Also US oil reserves are at record lows… what?!?!

    The US is the world largest EXPORTER of OIL – Also US oil reserves are at record lows… what?!?!

    Posted by OddAdhesiveness8485

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    8 Comments

    1. RealAmbassador4081 on

      Don’t worry, the administration will fill it back up at an inflated cost and all get their cut. 

    2. CoveredbyThorns on

      They need to push the narrative Iran war is justified because of high gas prices. That is how simple their propaganda is.

    4. jj_xl on

      340M barrels for the SPR.

      Meanwhile, US pumps 5B barrels a year.

      But no please continue, I enjoy being captured by sensational headlines.

    5. Potential-Field-6132 on

      You’re cheering big oil corporations that already receive tax subsidies made/are making themselves more money and we.The US see none of it and pay higher prices.   trump hates you.   not directed at op.   Into the ether. 

    6. crazybutthole on

      I am assuming you don’t study the oil markets much.

      But the real answer is – u.s. refineries were almost exclusively built decades ago. The oil they were designed to refine is the thick(sour) crude oil we get from Venezuela and Persian gulf.

      The deposits in the Permian basin are thinner/sweeter shale oil. Our refineries would need a major overhaul to be changed to be able to refine that oil and turn it into gasoline/diesel/motor oil/ plastics etc.

      Because of 20 yrs of climate change crisis saying save the environment! no more fossil fuels! – companies like Chevron Exxon and the like said it is not worth the money to build new (shale capable refineries) when the us government is pushing so hard for renewable energy infrastructure / EVs and the like. (In fact they don’t even do the work to keep existing refineries at max capacity. They do enough to barely meet demand and no more)

      As such – we have fewer refineries and older refineries are getting older. No new ones coming online.

      And it’s really not that big of a deal to the American people, the only ones paying the price are the people who need gasoline or diesel, or the people who buy products that are transported to local stores in trucks fueled by diesel or gasoline. (/s)

    7. Alienbunnyluv on

      Oil price go up sell stock oil price go down refill stock cheaper price

      This is a conspiracy????

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