Originally Posted by
Rubicon
Oil imports account for a huge portion of our trade deficit. The price of oil in Jan 2001 was ~$31 a barrel. Today it has roughly tripled in price. When that increase is subtracted from the increase in the trade deficit the increase in the TD becomes much, much smaller.
52.75% of U.S. Liquid Fuel Consumption is Imported
60.38% of U.S. Liquid Fuel Consumption is Imported
If I remember correctly, Bush wanted to drill in ANWAR but the dems blocked it. So, who bears responsibility for us being more dependent on foreign oil?