Why does the US export so much oil when we need it at home? | Why Guy

According to U.S. energy experts, large oil companies sell their products to a worldwide market. Most of what the U.S. produces comes from our gulf coast.

[sejembalm]

The U.S. became a net exporter of petroleum in 2020 and has increased energy production over consumption, but the U.S. still depends on international crude oil for key elements of its energy needs because the U.S. cannot refine all of the crude oil it produces. Many U.S. refineries cannot process the type of oil produced here, called "light" and "sweet." U.S. refineries are built to process heavier, less sweet crude (also called heavy, sour crude) from the Middle East and other overseas suppliers. That’s a holdover from past decades, when the U.S. was primarily importing its crude.
Even though the U.S. oil companies are America's most profitable companies (Chevron, ConocoPhillips, Exxon and Shell all saw $1 trillion in sales along with record profits in 2022), they will not expand their business to refine domestically-produced light, sweet crude oil in order to make the U.S. energy independent because there is more money to be had buying & selling on the international market.

[johnb]

Why don't you look into why the oil production plus the oil consumption statistics from the department of energy doesn't add up to what we consume? We consume way more according to their numbers that we make or import... Huh???

[roostercogburn]

The simple answer: to reduce the supply so the prices stay at a premium

[LogicAndReason]

In the long run, we would be better off putting a massive tax on all US consumed fossil fuels, and use the revenue to give every citizen a rebate check equal, or greater, to the cost of living increase. This would spur significant conservation and massive alternative investment, resulting in super-charged economic growth and innovation. And at the same time not harm consumers.

[estherbucio]

So the can sell it back to us for double. It's imported.