WP: Trade Deficit Up (Sharply) As Oil Imports Hit High

[stopbush]

Trade Deficit Up As Oil Imports Hit High

By Daniela Deane
Washington Post Staff Writer
Friday, August 12, 2005; 9:48 AM

America's trade gap widened sharply in June as ever-galloping oil prices pushed petroleum imports to an all-time high.

The Commerce Department reported that the trade deficit -- the gap between what America sells abroad and what it buys -- grew more than expected in June to $58.8 billion, a jump of 6.1 percent over May. So far this year, the trade gap is running at a yearly rate of $686 billion -- 11 percent higher than last year's all-time record.


The government released the trade numbers as crude oil rose to a record for a fifth day, topping $66 a barrel. Gas prices in America were also on the rise at a time when many Americans are taking road trips in their cars for their annual summer vacations.

http://www.washingtonpost.com/wp-dyn/content/article/2005/08/12/AR2005081200312.html

[edbermac]

1. Take a bow, George...

:grr:

[DIKB]

2. Another day of

record highs in oil prices. It's hitting their pocket books, but still the freeptards aren't waking up /sigh