We still must import 40% of our oil needs.
This will keep the dollar strong.
So why can’t we have cheaper gas?
wow amazing improvement in just two years. from now on the sky’s the limit.
thank God the false economic dogma of the uniparty is being swept away by a tidal wave of real economic activity.
Great website confirming your statement. What a letdown we have in WA and CA. Ripoff states. $1.00 higher forever.
11.3 million barrels per day, makes us the World’s largest oil producer.
Interior Secretary Zinke says he expects the USA to top 14 million barrels per day, year after next (2020). By some measures, we have more untapped oil in the ground than any other country - hundreds of years worth.
Separately, we are also the World’s largest natural gas producer (since 2009).
From liquefied gas on the light end, through gasoline and heating oil, to asphalt on the heavy end, there are lots of oil and gas products (hydrocarbons) used in our economy, which get rolled up into the Headline number for “oil” use. Some of what we import in one form, is refined and then used or exported in another form. Not all of it is for energy - much is used for paving, roofing shingles, plastics, fertilizers - even pharmaceuticals, flavors and fragrances.
A good example is the very thick (heavy), high sulfur (sour) crude oil and bitumen from Venezuela. The US built the refineries on the Gulf that could handle that product. We import a lot of their oil, produce products like asphalt and shingles, and a large percentage of the products are then immediately exported.
Out of the total 20 million b/d of hydrocarbon fuels the US uses per day, about one million of that is biofuels like ethanol, which are produced domestically. Six to seven million b/d are exported as products. So our domestic consumption of actual oil and gas (for domestic use) is more like 12 or 13 million b/d.
Although we still need imports to keep all our industries working, we are already essentially energy independent in terms of vehicle fuels and heating oil (including that used for generating electricity), if push comes to shove.