We export CRUDE. We still have refinery limitations in this country and have to re-import that crude after it is refined. We are not fully self-sufficient and likely will never quite get there. But if Canada and Mexico are the buffer that is fine. But I still think we take about 1 million barrels a say from Saudis.
An interesting thing will be to see how the daily Tanker Rates react tomorrow.
Still pretty much maxed out.
I heard that we actually export refined fuel. What I heard a few years ago was that we refine more than we can use, but we have to import the raw materials (crude) to do it, but we recently crossed a line in that we now, at least technically, produce all the crude we would need as a country.
Fracking truly changed the world, and it is getting more and more efficient and cost effective every year.
My concerns are:
how long will repairs take,
how simple (and cheap) is this type of attack to pull off,
how easy to ‘copycat’
how expensive will it be to protect oil production from drone attacks in the future - here and there...
If the price of oil is bid up in one part of the world - it’ll be bid up everywhere. I’ll fill my tank...on the off chance answers coming back confirm my fears.