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The US exports oil, but that won’t shield Americans from higher gas prices - Poynter

Poynter·Louis Jacobson·6 months ago
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With the Iran war prompting oil transport blockages in the Middle East that are pushing up oil and gasoline prices, Energy Secretary Chris Wright has become a public face of the Trump administration’s efforts to calm consumers. In a March 12  interview  on Fox News, Wright downplayed the impact on the U.S. from stalled traffic in the  Strait of Hormuz , through which about one-fifth of the world’s oil traffic flows. “The United States — we produce more oil than we can consume. We’re a net oil exporter,” Wright said. This comment misses some important context. Some metrics show the U.S. as a net exporter, but for crude oil — the material that’s refined into gasoline — the U.S. is a net importer. Also, a net exporter status wouldn’t help keep gasoline prices down for consumers in a situation like the blockage in the Strait of Hormuz.…

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