US trade deficit down, while oil imports fall to their lowest in four years

Saturday, October 4th 2014 - 10:29 UTC

Full article 5 comments

The U.S. trade deficit slipped 0.5% in August to 40.1 billion, the lowest since January, the Commerce Department reported Friday. Oil imports fell to their lowest level in four years.U.S. exports increased 0.2% in August to a record 198.5 billion, while imports grew 0.1% to 238 billion. After a 40.3 deficit in July, analysts expected a 40.9 billion trade gap in August. Read full article

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Briton
Good on you America,,,

Come on Britain we need to do a lot better...
Oct 05th, 2014 - 01:38 am - Link - Report abuse 0
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ilsen
How long until USA is energy self sufficient?
Anyone got the figures?
Yankeeboy?
Can't be long now. And will certainly change global affairs when it does happen.
Oct 05th, 2014 - 09:48 pm - Link - Report abuse 0
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yankeeboy
Its hard to say when we'll be self sufficient prob 5-10yrs, we actually may start exporting before we reach that point. I think it'll pass in the next Congress. There are a few states that have LOTS of oil that haven't approved the new technologies, I think that will change soon plus a new Prez will open up Federal land/water that Obama has had closed for the last 6 years.
We have the cheapest nat gas, it is now cheaper to mfg in the USA than in China.
Between the exporting of fuel and bringing home mfg the next decade or two will see major changes in the USA economy and how we react to world events.
Oct 06th, 2014 - 10:44 pm - Link - Report abuse 0
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Captain Poppy
Why would we want to export before we cover our own needs?
Oct 07th, 2014 - 01:20 am - Link - Report abuse 0
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yankeeboy
4. Its different types of oil, we refine a lot here for other countries and there are types of products that are done someplace else and imported. We also have too much Nat Gas and not enough LNG export terminals. It'll take a few more years for them to come online before we can be a major player in that market. I think that is what Russia is so worried about.
Wait until CA wakes up on fracking and their huge oil reserves off the coast. They could solve their budget problems pretty quickly if the environmentalists would let them.
Oct 07th, 2014 - 02:06 pm - Link - Report abuse 0
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ilsen
Thanks for the input.
Oct 08th, 2014 - 08:41 pm - Link - Report abuse 0
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