The United States is producing so much oil now that it's become an oil-exporting nation! That's a claim you hear with increasing frequency, but like a lot of energy "news" lately, it's just plain wrong. In fact, we're still importing nearly 10 million barrels of oil per day. And the idea that we are exporting "oil" is even a half-truth, as about 98.5 percent of our petroleum exports are refined oil products like heating oil, diesel, and gasoline, rather than crude oil. We're exporting those products because, with decreasing demand for petroleum products, we have excess refinery capacity when much of the rest of the world doesn't have enough.