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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (31574)	4/15/2003 9:25:26 PM
From: ild	Read Replies (1) \| Respond to of 74559

Data you quoted are definitely wrong. People just like looking at high gas prices without understanding the facts. The fact is that we are buying a lot of oil but the majority of our trade deficit does NOT come from oil. US oil imports come to around $80 Bln a year. Our trade deficit is $40 Bln a month. Now facts: <<<Saudi Arabia is expected to earn nearly $55 billion in crude oil export revenues, roughly unchanged from 2001. >>> eia.doe.gov $2,000,000,000,000 divided by $55,000,000,000 is 36.3. So 2 TRILLION USD is over 36 YEARS of Saudi Arabia oil production in 2002 prices.