US trade gap widens as oil soars

#1
http://news.bbc.co.uk/1/hi/business/4145850.stm

The US trade deficit widened by 6.1% in June to $58.8bn (£32.5bn), as the soaring cost of oil boosted imports to the world's biggest economy.
The monthly trade gap grew from May's $55.4bn figure, the US Commerce Department reported.

Analysts had predicted June's trade gap would be in the region of $57.3bn, as the stronger dollar hit US exports.

Petroleum imports to the US hit a record $19.9bn, with average oil prices in the month reaching $44.40 a barrel
How long before we get to $75.00 a barrel? More importantly, at what level will it start to bite the US economy?

Saw a piece on BBC24 last night, where delivery companies are going to start charging fuel weighting to their customers 8O
 
#2
You're looking west, you should be more concerned looking East
Those lovely chinese (6 billion people can't be wrong)
Currently the biggest oil user and owner too, all those lovely oil-fields in Kurdistan and Krygzystan belong to ,or optioned to them.
 
#3
I already have looked east Darthspud. They hold rather a lot of options on Iranian Oil fields as well.
Now if I was cynical.............
 
#4
Do you think I should warn-off the wife for arrival of next invite to Tony and Dubya's beach party deux ????
Think she's going to be a bit miffed if i miss another christmas lazing in the sun.
Mind you I am a full civvy cnut now, but hell, he may mbilise everyone just for the hell of it.
Full employment
QUICK THOUGHT
Never fight a land war in Asia????
Tony and Dubya need to read their history and heed Monty's words of wisdom
 
#6
Darthspud said:
You're looking west, you should be more concerned looking East
Those lovely chinese (6 billion people can't be wrong)
Currently the biggest oil user and owner too, all those lovely oil-fields in Kurdistan and Krygzystan belong to ,or optioned to them.
Errr, slight mistake spud, population of China is 1.3 billion - but then, they all look alike dont they, maybe you counted then all 4 times by mistake.....
 
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