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Economic Data
For Our Childrens
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The USA
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Economic Data about our Dependence on Imported Oil and Related Concerns
This page is pretty dry stuff. It does however give a pretty solid bunch of data to show just how things are and how they have changed in recent years. All this data is extracted and provided by the Office of Trade and Industry Information, Manufacturing and Services, International Trade Administration, U.S. Department of Commerce.

This first table shows just how intense the balance of trade money drain has become over the last two decades. It also shows how the transportation part figure into the full picture of our balance of trade.
Do these balance of trade money drains look like good policy?

Balance of Trade

1990 to

2000 to

Percent

 In Million of Dollars

1999

2009

Increase

All Merchandise

-1,586,493

-6,232,328

393%

 

 

 

 

OIL & GAS

-495,494

-1,905,316

385%

PETROLEUM & COAL

-54,202

-269,461

497%

MOTOR VEHICLES

-539,904

-950,530

176%

MV PARTS

-43,478

-184,591

425%

MV BODIES

4,956

5,165

104%

Totals

-1,128,122
-3,304,733

As oil addicts the U.S.A. has been on a serious binge for the last five years!

Imports

2005

2006

2007

2008

2009

OIL & GAS

222,505

258,114

281,836

392,962

212,968

PETROLEUM & COAL

61,987

69,370

77,279

90,665

54,684

Total

284,492

327,484

359,115

483,627

267,652

Total for 5 years

1,722,370

Average for 5 years

344,474

[Millions of dollars]

 

 

 

 

 

OIL & GAS

1990 to

2000 to

 In Million of Dollars

1999

2009

Imports

505,707

1,945,671

Balance of Trade

-495,494

-1,905,316

Here is a list of countries that provide the large amounts of oil
This next table focuses on the last five years. It shows why 2008 may go down in history as the peak for global oil production. It is possible that other countries may pick up their use and create an even higher peak but the U.S. economy would have to recover big time to do this again.
The balance of trade comes pretty close to being the same as our Imports. We export very little of our oil and related products.
Copyright Speakers Press July 2010 all rights reserved. Use rights free for not for profits when authorized 805-652-1482
It would be great if you could start looking at the solutions and
help make the changes we need.

Balances for Largest Oil Trading Partners

 For OIL & GAS

For All Merchandise

Oil & Gas as % of All Merch.

 

2000 to

2000 to

 

In Million of Dollars

2009

2009

 

World

-1,905,320

-6,232,333

 

Canada

-449,849

-589,425

76%

Saudi Arabia

-238,054

-176,180

135%

Venezuela

-220,281

-210,758

105%

Mexico

-203,084

-479,254

42%

Nigeria

-185,898

-174,242

107%

Iraq

-89,857

-82,349

109%

Angola

-77,108

-70,561

109%

Algeria

-76,449

-83,180

92%

Colombia

-34,353

-23,173

148%

United Kingdom

-32,782

-63,516

52%

Kuwait

-32,402

-18,582

174%

Ecuador

-31,255

-24,519

127%

Norway

-28,843

-41,358

70%

Trinidad and Tobago

-28,376

-41,950

68%

Brazil

-24,012

-24,639

97%

Russian Federation

-22,920

-97,508

24%

Gabon

-19,144

-18,222

105%

Congo

-16,937

-17,235

98%

Equatorial Guinea

-13,067

-11,726

111%

Chad

-10,669

-10,986

97%

Libyan Arab Jamahiriya

-10,636

-11,427

93%

This would not be complete without adding our other trading partners
we are helping to get wealthy

      

Balances for Largest General Trading Partners

Balances for OIL & GAS

Balances for OIL & GAS

Balances for All Merchandise

In Million of Dollars

1990 to

2000 to

2000 to

Not including the Oil Partners

1999

2009

2009

China

-3,289

-2,459

-1,746,118

Japan

1,856

2,089

-738,963

Germany

-45

-34

-393,570

Ireland

1

0

-181,975

Malaysia

-1,183

-1,882

-172,061

Italy

-95

22

-169,594

South Korea

820

204

-138,571

Taiwan

210

7

-134,744

Thailand

-385

-1,576

-117,230

France

-41

57

-115,000

Indonesia

-4,480

-4,232

-85,397

India

-42

1

-83,149

Sweden

-29

-45

-73,314

Israel

1

2

-66,586

Viet Nam

-334

-5,144

-51,198

So where is all this money going and who is getting wealthy based on our need for foreign oil? Here are the top twenty countries where our oil money goes. Two more have been added as they have gone from no oil to lots of it. This list includes our new best friends and helps explain some of our new foreign relations policies.
The countries that have more than a hundred percent of their balance of trade from oil are at least buying some other goods and services in return. The ones with less than a hundred percent are selling us more things than oil and buying fewer things from us. One-sided relationships are not so much fun are they?
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