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Why are oil prices affecting the U.S. if we are a net oil exporter?

The U.S. produces more oil and gas than any country in the world. So why are prices at the pump 30% higher than they were last year? The Indicator (and brand new Indicator newsletter) explains!

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Morning EditionAll Things ConsideredNational & International Business News
Cooper Katz McKim
Cooper Katz McKim is an Assistant Producer for NPR's daily economics podcast The Indicator from Planet Money. Before The Indicator, McKim reported at NPR Member stations in South Carolina and Wyoming. At Wyoming Public Radio, he filed stories with NPR's Environment And Energy Collaborative on bankruptcies, carbon capture and economic transition. He's won a national Edward R. Murrow Award for Best Use of Sound. More recently, he's served as a podcast producer at Sports Illustrated and the HISTORY Channel. He graduated from Tufts University and now resides in Denver, Colorado, where he spends his time mountain biking and playing jazz piano. [Copyright 2024 NPR]
Darian Woods is a reporter and producer for The Indicator from Planet Money. He blends economics, journalism, and an ear for audio to tell stories that explain the global economy. He's reported on the time the world got together and solved a climate crisis, vaccine intellectual property explained through cake baking, and how Kit Kat bars reveal hidden economic forces.