4 ms·
Not only is it wrong, it's backwards: the US has some of the only refineries capable of processing heavier crudes, and so other countries depend on us to refine
by causal 2y ago
Not only is it wrong, it's backwards: the US has some of the only refineries capable of processing heavier crudes, and so other countries depend on us to refine it, especially Canada. US is a net energy exporter, and ship out a lot of light crudes.
Edit: Maybe GP comment means we don't have as much capacity to refine light sweet crude? That's probably true, but wouldn't be financially advantageous to do so.
https://www.eia.gov/todayinenergy/detail.php?id=54199 https://www.eia.gov/todayinenergy/detail.php?id=54199
- blackhawkC17 2y agoEven if the US lacked refinement capacity (which is obviously not true), significant capital investment as implied by the OP is not something the U.S. lacks.
- DrFalkyn 2y agoYes they could build them, but currently there’s no economic reason to do so. If SHTF and oil companies were barred from exporting, then that changes very quickly
- vel0city 2y agoThis for sure. Its far easier to rework a refinery designed for heavy, sour oil and make it ready to process light & sweet. And WTI is very light & sweet. More and more refineries in the US have moved to processing more and more light/sweet crude oil as the level of imports lessened.