21 sats \ 10 replies \ @Satosora 19 May \ on: How U.S. oil production reached an all-time high in 2023 econ
If we are producing so much, why isnt it cheaper?
We're making up for reduced global production stemming from the various wars going on.
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We've always exported oil. Alaska's been exporting to Japan since the 70's.
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That oil gets transported down to the refineries near the Gulf of Mexico. I believe they've been exporting oil from there since the fracking revolution.
I think the point is that the US has generally been importing more oil than it's been exporting.
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Is it worse than coal mining?
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