The US produces what is known as light sweet crudes. Long before anyone started drilling for oil in the US, big industry developed a system of refinement that requires heavy crude, which made sense 90 years ago when the Arab world was giving oil away. Today, it would take trillions of dollars in investment to upgrade our primary refining processes to light sweet.
FarDig9095 on
Hoarding
StirFriedRubber on
Big truck little man syndrome.
MsMisty888 on
Canada, for example, has built the infrastructure to extract crude oil from the ground.
Then, We pipe to the US who has the factories to process the crude into gas, etc
Canada sells it to the US for cheap, then we buy it back for way more money after it is refined.
Coolenough-to on
Because it doesn’t. Last year, appx. 65-70% of the gas consumed in the US came from domestic crude.
8 Comments
Good question
Export at a high price, Import at a Lower Price?
The US produces what is known as light sweet crudes. Long before anyone started drilling for oil in the US, big industry developed a system of refinement that requires heavy crude, which made sense 90 years ago when the Arab world was giving oil away. Today, it would take trillions of dollars in investment to upgrade our primary refining processes to light sweet.
Hoarding
Big truck little man syndrome.
Canada, for example, has built the infrastructure to extract crude oil from the ground.
Then, We pipe to the US who has the factories to process the crude into gas, etc
Canada sells it to the US for cheap, then we buy it back for way more money after it is refined.
Because it doesn’t. Last year, appx. 65-70% of the gas consumed in the US came from domestic crude.
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