> The petrodollar hypothesis is a myth. The United States, now a net oil exporter, does not depend on Saudi oil.
The notion that the United States does not depend on Saudi oil (or that it's energy independent) just because it's a net oil exporter is a myth. Not all crude oil is equal. The US has an abundance of light oil which it exports but it still imports a lot of heavy and sour oil from OPEC and Canada.[1]
The notion that the United States does not depend on Saudi oil (or that it's energy independent) just because it's a net oil exporter is a myth. Not all crude oil is equal. The US has an abundance of light oil which it exports but it still imports a lot of heavy and sour oil from OPEC and Canada.[1]
[1]: https://www.eia.gov/tools/faqs/faq.php?id=727&t=6