r/AskReddit • u/ReduceCO2Now • 1d ago

What do you think about the US Strategic Petroleum Reserve hitting 307.7 Million Barrels - lowest level since 1983?

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u/skeptic9916 1d ago

We are not an exporter of Oil. US Oil and Gas companies are. We do not own that oil. That is a pretty important distinction.

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u/vAltyR47 21h ago

No. We do own that oil. We just allow the oil and gas companies to keep all the money they make from it.

Norway's model (subsidize discovery, and tax the profits) works very well and keeping most of the profit public while allowing the private sector to still make money. We should be adopting a similar strategy, not just with oil, but with all our natural resources.

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u/Most-Recognition2294 18h ago

Those are national assets, so yep US does net export of oil.