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Cake day: June 18th, 2023

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  • Last year the US imported ~8 million barrels of oil per day from 86 countries and exported about ~10 million barrels per day to 160 countries. Why didn’t we simply net it out at 2 million and stop all imports? Setting up additional drilling infrastructure not only takes time, but it’s often far more profitable to import/export over sea or intl borders. Why would we stop the profitable export of oil and prevent the profitable purchase of oil to spend time and money just moving oil across the country?