The United States became a net oil exporter for the first time in 75 years, or so they say. While the U.S. may indeed be exporting more petroleum than it imports from time to time, there’s a dirty little secret behind the data. And one of those secrets overlooked by some energy analysts and the press is that the U.S. still imports 7 million barrels per day of oil. So, why would the United States continue to import 7 million barrels per day (mbd) of oil if it is indeed… a Net Oil Exporter?? Good question. And, the answer to that question is hidden in the details, or as they say, “The devil is in the details.” According to the EIA, the U.S. Energy Information Agency, the U.S. first became a net oil exporter during the week of Nov 30th, 2018 by exporting 211,000 barrels per day more than […]