this post was submitted on 04 Oct 2023
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[โ€“] krolden@lemmy.ml 0 points 9 months ago (1 children)

The only reason the USA is exporting all that oil is because they don't have the facilities to refine it.

[โ€“] HobbitFoot@thelemmy.club 5 points 9 months ago

No. The USA has a lot of natural oil reserves, but a lot of them are more expensive to extract than the global average.

Even with American companies no longer investing in new production, the USA has a lot of oil it has access to extract.