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AZJonnie

(4,016 posts)
15. Yup. And other than literally right now, when the frackers are ramping up exporting because OTHER countries
Sun May 10, 2026, 11:02 AM
May 10

Are paying very high rates (leaving US consumers with higher prices for gas), the US has remained a net CRUDE importer throughout this fracking boom. We've generally been exporting about 4.5M barrels a day, and importing about 5.5M barrels a day until like 2 weeks ago.

An addendum to your post there is that the main reason for the imports is that the oil being produced by VZ, Canada, and Mexico is much closer in nature (sour, heavy) to the oil that most of the US (including Alaska) was producing prior to the fracking boom, and a great many of our refineries were never retooled to process the (sweet, light WTI) oil produced by the frackers. So we still import MORE (heavy, sour) than we export (light, sweet) when it comes to crude.

Again until like 2 weeks ago, when the WTI producers sold a shit-ton of it to the rest of the world, to the point that exports finally exceeded imports. US oil inventories, in net, fell drastically as a result, and that is part of why US prices have shot up so much the past couple of weeks.

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Already started. Along with no gas. Blue Full Moon May 10 #1
The lines in the 70's were caused by Nixon's price controls. Girard442 May 10 #2
The shortage in 1979 was not caused by Nixon. yardwork May 10 #6
As per Wikipedia, price controls remained on domestic oil production (but not gasoline) until 1979... Girard442 May 10 #11
Ok. I can see an argument that keeping the price low contributed. yardwork May 10 #16
No. This keeps getting posted. We export oil. We export fuel. Only California sources primarily from abroad. Melon May 10 #3
Weren't we exporting oil 50 years ago? 3Hotdogs May 10 #4
We were a large net importer of oil in the 70's Melon May 10 #8
Crude oil export ban enacted in 1977 paleotn May 10 #14
Yup. And other than literally right now, when the frackers are ramping up exporting because OTHER countries AZJonnie May 10 #15
Oil inventories fell Melon May 10 #17
The US, could, technically, impose whacking big export fees on our oil to keep it in the country. Girard442 May 10 #12
Oil is a commodity and we also export to support Melon May 10 #18
The automobile gas shortages in 1973 and 1979 were caused by embargoes. yardwork May 10 #5
Which country(yes) embargoed oil? Isn't the Strait action by Iraq a de facto embargo? 3Hotdogs May 10 #9
It was the Organization of Arab Petroleum Exporting Countries (OAPEC) EX500rider May 10 #22
It was caused by OPEC restricting output MichMan May 10 #10
Just in time for summer, when the price of gas always goes up, and 81% of Americans expect to travel. sop May 10 #7
Planning to fly from NYC to Seattle in July. Girard442 May 10 #13
Let's see, you can do a version of the Lewis and Clark expedition... haele May 10 #19
Have done PGH to Seattle on Amtrak - 3 nights. Thank god for the Roomette. RPM May 10 #21
I don't know. But I am keeping my gas tank full. GoodRaisin May 10 #20
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