General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIs US energy dependent or independent?
I fail to see how anyone can make the call. If we are 'dependent' how come we export about as much as we import and why haven't US oil companies ramped up production?
https://www.forbes.com/sites/rrapier/2021/11/14/is-the-us-energy-independent/?sh=55164bca1387
https://www.eia.gov/todayinenergy/detail.php?id=51338
https://tradingeconomics.com/united-states/oil-exports
Walleye
(30,935 posts)The only way to be energy independent is through renewable sources
Pachamama
(16,884 posts)Completely Agree
Ferrets are Cool
(21,102 posts)pretty much.
HighFired49
(346 posts)It's all about $$$$$. Oil companies make lots of it by importing cheaper oil and then selling it for a higher profit margin than if they produced it here. No need to ramp up production.
NickB79
(19,219 posts)There are bigger profit margins if we export our high quality, low-sulfur crude and import cheap, high sulfur crude. A lot of our refineries were built to process the cheap, heavy Venezuelan crude, back when we imported a lot of their oil before fracking took off. So we sell our good stuff to countries with more finicky refineries that can't handle the thicker stuff.
Ironically, it would make domestic gas prices HIGHER if we used only our own oil, assuming the oil companies kept the same profit margin.