US Trade Deficit is Half Oil

A government official emphasized to me today what should be clear to anyone who follows Calculated Risk’s charts, namely that a huge element of our trade deficit has nothing to do with China or manufacturing but is instead driven by oil:

Now it’s not unusual that the US is a net oil importer. Most countries are. But America is a much more oil-dependent country than other places are. 

From US Trade Deficit is Half Oil

The ongoing bailouts of the Oil Industry are the cause of half of us debt.

By Stable Genius

I am the very model of a Stable Genius Liberal.