US oil production- barrels per day - 13.4 million
US refinery capacity- barrels per day- 18.4 million
US consumption- barrels per day- 20.4 million
We produce 66% of what we use.
We refine 85% of what we use
Draw your own conclusions- I think we need way more production and
refining capacity.
Hard to understand why we’re exporting crude when we need it here.
Because the US specializes in refining heavy crude while our oil production is primarily light crude. I believe we need to increase refinery capacity for light crude in which we can then produce our own fuels for our large transportation economy. And then we could possibly separate our oil pricing structure from the world. But the only way to do that is have the government step in and have price controls which I don’t agree with.