U.S. Oil exports won't make anything better for expensive produced oil that we are going to try and sell profitably to who? Wake Up! Saudi wins the tight oil game!💩
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Remove ethanol from our gasoline. The original reason for ethanol had nothing to do with the environment, but to curtail reliance on middle east oil.
40% of today's corn supplies now go to producing oil. Reducing the food supply, increases food prices for us all.
Drill baby drill ! That's the right thing to do to make prices go up in a flooded market. We have always imported 60% of our oil from Canada. I get that but how do you move needle to profitability for U.S. Oil? Too much supply and not enough demand worldwide. It took 10 years to build up to demand thought to be there in places like China. That's gone for now and won't be back for 5 years or more at the least. It's over here until then.
Imports of Candian oil are 3 times as much as Saudi oil into the U.S.
Imports from Canada are more than all of OPEC combined.
Canada is building pipelines to the East Coast, and refineries that once refined shale oil (yes US was allowed to export crude to Canada during the export embargo) are being retrofitted for Canadian Heavy Oil.
That was is one less refinery for shale oil, and that is another factor as to why the export ban needed to be lifted.
To China mostly. They have amazing new refineries. Not to mention, it's cheaper to refine our lighter crude. Not in our refineries of course. The US government had tied our hands by refusing to allow new refineries. Ours are old and built specifically for heavier OPEC imports. We literally have to mix our light with their heavy to refine any of ours. Exporting allows countries who've stepped into the modern era to actually save money through energy savings in the refining process. So, basically, yeah, we can't ever be energy independent without opening up some federal lands for drilling AND building new refineries. Our ONLY hope is to export to relieve inventory so we can have a job. Saudi owns our market, so we can't even compete for our own market. That's insane regulation. With exports, we can at least compete for other markets.