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WHY DOES THE USA EXPORT OIL?
The USA exports 1,048,000 barrels of oil a DAY. Yet we import 13,150,000 barrels of oil a day, making the USA the biggest Importer in the world. (more than the next 3 countries -combined). Does the US sell the oil for more than they pay for oil?
4 Answers
- MDLv 41 decade agoFavorite Answer
It costs a lot less to send the oil to a closer refinery, usually Canada, than it does to ship it across the U.S. to be refined. After being turned into fuel it is imported back to the states. Refinery capability is already maxed out in America. People aren't making money "on the spread", all the exported oil makes it way back - just in a different form.
- Anonymous5 years ago
the u . s . a . exports a grand entire of 20,000 barrels of oil an afternoon, all of it to Canada, and all of it relatively is sophisticated in Canada and decrease back to the u . s . a . as gas and different products. so because it relatively is a lie. As for the fees of oil, additionally incorrect. the u . s . a . imports approximately 14,000,000 barrels of oil an afternoon, and the rationalization we import lots is that wecontinual too lots and our automobiles are basically too inefficient. Your diagnosis is carefully incorrect. you're featuring fixing our heroin concern by ability of production extra heroin. ordinary American answer.
- Anonymous1 decade ago
quality.
all oil is not created equal.
If you pulled 100 barrels of oil out of your back yard and someone offered you $85 per barrel and someone else offered you $55, would you pick the $55 price because it was in the US rather than Spain?
- Anonymous1 decade ago
because america is awsome (Dont question it)