BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Trade deficit unexpectedly widens to $63.1B in November]]>http://www.bloggingstocks.com/2008/01/11/trade-deficit-unexpectedly-widens-to-63-1b-in-november/http://www.bloggingstocks.com/2008/01/11/trade-deficit-unexpectedly-widens-to-63-1b-in-november/http://www.bloggingstocks.com/2008/01/11/trade-deficit-unexpectedly-widens-to-63-1b-in-november/#commentsFiled under: , ,

The U.S. trade deficit unexpectedly widened 9.3% in November 2007 to a seasonally-adjusted $63.1 billion on a record increase in oil prices, the U.S. Commerce Department announced Friday in a statement.

Analysts had expected a $59.5 billion trade deficit for November 2007. Imports increased 3% to a record $205.4B while exports increased to a record $142.3 billion. November's $63.1 billion total was the largest monthly deficit since September 2006.

Crude reality

The key driver of the unexpected deficit jump was the importation of oil. The United States spent a record $79.7 billion in November 2007 on oil imports, driven by, for equal measure, a record average price for a barrel of oil -- $79.65, which was up $7.16. In non-inflation-adjusted terms, November 2007's trade deficit was 8% higher than a year ago.

"It's a disappointing number, but one has to qualify that by noting that the oil imports skewed the numbers somewhat. Without the increase in oil imports from oil's record price, the trade deficit is decreasing, driven by the weaker dollar and increased exports," economist Steve Affinito told BloggingStocks Friday. "That said, we still have to reduce our imports of foreign oil."

Continue reading Trade deficit unexpectedly widens to $63.1B in November

Trade deficit unexpectedly widens to $63.1B in November originally appeared on BloggingStocks on Fri, 11 Jan 2008 11:16:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>11108agricultureexportsimportsinthenewsoiloil importsoil pricestradetrade deficitU.S. Commerce DepartmentFri, 11 Jan 2008 11:16:00 EST<![CDATA[What the Big Three can do now to increase mpg]]>http://www.bloggingstocks.com/2007/11/06/what-the-big-three-can-do-now-to-increase-mpg/http://www.bloggingstocks.com/2007/11/06/what-the-big-three-can-do-now-to-increase-mpg/http://www.bloggingstocks.com/2007/11/06/what-the-big-three-can-do-now-to-increase-mpg/#commentsFiled under: , , , , , ,

Detroit's Big Three, General Motors (NYSE: GM), Ford (NYSE: F) and Chrysler have often been criticized for their bureaucracy, slow decision making, and, at times, outright inertia...even when conditions required bold, decisive action.

There's the joke about the five General Motors executives that go on a camping trip in the Great Midwest. Suddenly, they spot a bear 600 feet away and charging toward where they're seated at the camp site.

Each executive has a rifle and is ready to shoot the bear to defend the campers, and the senior executive says: "Allright, Executives, ready, aim, aim, aim, aim, aim, aim, aim, aim, aim..."

Continue reading What the Big Three can do now to increase mpg

What the Big Three can do now to increase mpg originally appeared on BloggingStocks on Tue, 06 Nov 2007 16:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>auto designauto sectorautosAutoSectorBig ThreecarsChryslerclimate changeCO2DetroitdieselenvironmentethanolFFordgasolineGeneral MotorsGMgreenhouse gasesmiles per gallonmpgnew carsoiloil importstransportationTue, 06 Nov 2007 16:45:00 EST