That only makes sense if you're looking at a snapshot in time and try to make sense of it. It's too simplistic to explain this situation if it persists over tim

That only makes sense if you're looking at a snapshot in time and try to make sense of it. It's too simplistic to explain this situation if it persists over time. Which, well, it's too early to tell. US domestic oil production ha so only matched import volume for the first time ever in 2020[1]. I expect that if the US keeps production high, eventually the cost of domestic production will reach an equilibrium and the benefit of locality and less transport costs will force the US to use its own oil. [1] - https://upload.wikimedia.org/wikipedia/commons/6/6d/US_oil_production%2C_imports%2C_%26_exports.webp https://upload.wikimedia.org/wikipedia/commons/6/6d/US_oil_p...