Why is the US forced to import oil while US oil companies make 80% of profits by selling oil to other nations?

Question

Why is the US forced to import oil while US oil companies make 80% of profits by selling oil to other nations?

Answer 1

It is a free market.  We do not regulate where companies can sell their product.

Answer 2

The US does not have enough oil within it's orders for it's own needs

American oil companies have interests in oil feilds in other countries, but that oil still has to be shipped to the US

and also, as far as gasoline goes, the US has not built a new refinery in more that 20 years

The NIMBY's oppose every new refinery

These keeps cost of gasoline high.

Answer 3

That is an excellent question. I would like to know what other people think.

Answer 4

I'm curious the exact source of your statistic (not disputing its accuracy). I think most of those exports are sent to Canada where it is refined and sent back as gasoline. Anywho the amount we export is less than 1% of what we import so it’s almost inconsequential and entirely insufficient for our consumption.