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user-inactivated  ·  4343 days ago  ·  link  ·    ·  parent  ·  post: Three Major Economic Misconceptions

    Fact: Just 9.8% of oil consumed in the U.S. comes from the Middle East.

That is also a slight misconception, is it not? We might only consume a small part of it, but we still import a ton of it, refine it, and then export it again. That's how a lot of oil companies make money, if I understand it correctly.