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If we have enough oil to export it then, why the hell are energy prices going through the roof?

US poised to become net exporter of crude oil in 2023

By late 2023 America could be exporting more crude oil than it imports

The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year.

https://www.foxbusiness.com/energy/us-po...e-oil-2023

(12-20-2022, 12:04 AM)The Drifter Wrote: [ -> ]If we have enough oil to export it then, why the hell are energy prices going through the roof?

US poised to become net exporter of crude oil in 2023

By late 2023 America could be exporting more crude oil than it imports

The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year.

https://www.foxbusiness.com/energy/us-po...e-oil-2023

Tell me you don't understand how anything works without telling me you don't understand how anything works.

1. Oil in fungible.
2. The price per barrel has to be very high to make American exports profitable.
3. Every time it reaches the point that America takes the lead the ME countries open up supply and force the PPP down which in turns shutters American production.
4. Rinse and repeat every five years.