Oil companies profits are well in line with most other major companies in this country but the question I have is why are there reports that fuel has become our biggest EXPORT!
Many years of expanding and upgrading our existing refineries, combined with falling demand in the US, has finally put the US with surplus refinery capacity.
So now we import a little more crude oil than we need, refine it, and export the higher value product.
It helps our trade balance, it keeps more jobs in the US, it keeps a surplus capacity running so when we need it (more demand, refinery explosion, etc) it is already running and online.
What is wrong with that?