If we import 60% of our oil but export 40% of what we drill in the us where is the shortage?

Question

If we import 60% of our oil but export 40% of what we drill in the us where is the shortage?

Answer 1

I'm in the oil/gas industry. The United States exports way less than 40% of total domestic production. Something more like around 1%. Most of that 1% is merely exported to Canada for refinement. The 40% that you are thinking of is the total amount of domestic production consumed in the United States. We import (mainly from South America/Mexico/Canada/Nigeria) the other 60%.

Just my 2 cents.

Answer 2

The shortage is in the supply of refineries ? The devaluing of the US dollar .

Answer 3

Those numbers are wrong. Ride a bike.