Half of Our Trade Deficit Due to Oil

Armand Biroonak's picture

CAF STAFF

Submitted by Armand Biroonak
July 17th, 2008
Posted in

Almost half of our trade deficit—$327 billion—is attributable to oil imports. To finance this debt, we must either borrow from countries like China or sell off American assets at the rate of $2 billion every single day.

Source
http://www.energyintel.com/PublicationHomePage.asp?publication_id=2
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