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Topic: Trade deficit heading for surplus |
Trade deficit heading for surplus
Washington Times, by Patrice Hill
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Original Article
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Posted By:Dreadnought, 12/25/2012 10:29:07 PM
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| While Washington wrestles with the nation’s burgeoning budget deficits, some good news has emerged on the other deficit front: The nation’s bloated trade deficit appears to be turning the corner, with at least one prominent economist predicting it will disappear altogether within a decade. A recent wave of “re-shoring” of overseas manufacturing plants by U.S. chemical, auto and other companies signals the revival of U.S. competitiveness in many industries vis-a-vis Europe, Japan, China and other major trade partners. The trend got a big push recently from a dramatic drop in American natural gas
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Reply 1 - Posted by:
oh-heck, 12/25/2012 11:00:07 PM (No. 9083617)
I retired from Dow at end of 2008. At that time natural gas was expensive and of uncertain long term availability. We were importing a great deal of oil and the US was non-competitive for both energy and chemical feedstocks. The ability to extract oil from tight oil formations in ND and then TX has changed the picture completely. 2 million barrels per day additional oil are being produced in US now and have replaced imported oil. The price of natural gas has fallen by a factor of 5. That´s about $700 billion that is no longer imported. And by 2017, huge amounts of plastics that would have previously been produced in Saudi will be produced in the US.
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Reply 2 - Posted by:
absalom, 12/26/2012 12:33:53 AM (No. 9083660)
If ´hydrofracking´ continues to expand nationally, the USA can become an oil exporter by 2016!
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Reply 3 - Posted by:
woodsman, 12/26/2012 12:46:05 AM (No. 9083664)
It´s mostly because the dollar has dropped dramatically in value
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Reply 4 - Posted by:
binthere_dunthat, 12/26/2012 3:56:08 AM (No. 9083722)
With the possibility of the U.S. improving its economical status, the current regime will no doubt see the need to throw a large number of EPA wrenches into its gears. Keeping in mind their obvious goals for destroying the U.S. economy, Fauxbama will need to do whatever possible to change such a threatening outcome as improved prosperity for the country. Sorry #4. Sometimes realism isn´t positive as the MO of "dear leader" consistently demontrates.
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Reply 5 - Posted by:
Mr. Hanky, 12/26/2012 5:52:51 AM (No. 9083742)
And you can thank cheap energy and natural gas fracking...
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Reply 6 - Posted by:
srhcb, 12/26/2012 6:05:10 AM (No. 9083749)
One economist predicts this will happen ... in ten years?
Excuse me if I keep the cork in the champagne bottle for a while.
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Reply 7 - Posted by:
Echohawk, 12/26/2012 10:30:49 AM (No. 9084071)
This is stunning news; we´ve been running a trade deficit since the 1980´s.
A sign of the times: Matt Damon´s new anti-fracking movie was paid for by the United Arab Emirates. (They´d rather we continue to import Middle East oil.)
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Reply 8 - Posted by:
stablemoney, 12/26/2012 10:49:09 AM (No. 9084108)
I do not want my time wasted hearing about something being balanced within a decade. Don´t let the door hit you!
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Reply 9 - Posted by:
absalom, 12/26/2012 1:18:51 PM (No. 9084454)
Assume energy trends continue in the USA.
Since every action has an equivalent positive or negative reaction; expect the Middle East to decend into violent chaos.
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Perhaps no other IRS official is more intimately associated with the tax agency´s growing scandal than Lois Lerner, director of the IRS’s Exempt Organizations Division. Since admitting the IRS harassed hundreds of conservative and Tea Party groups for over two years, Lerner has been criticized for a number of untruths—including the revelation that she apparently lied about planting a question at an American Bar Association conference where she first publicly acknowledged IRS misconduct. Still, Lerner has her defenders in the government and the media. Shortly after the scandal broke, The Daily Beast published an article headlined "IRS Scandal’s Central
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The Obama administration has no business rummaging through journalists’ phone records, perusing their e-mails and tracking their movements in an attempt to keep them from gathering news. This heavy-handed business isn’t chilling, it’s just plain cold. It also may well be unconstitutional. In my reading, the First Amendment prohibition against “abridging the freedom .?.?. of the press” should rule out secretly obtaining two months’ worth of the personal and professional phone records of Associated Press reporters and editors, including calls to and from the main AP phone number at the House press gallery in the Capitol
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Posted By: Dreadnought- 5/19/2013 11:02:05 PM
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Posted By: Dreadnought- 5/19/2013 10:47:42 PM
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Since his emergence as a national political figure, Barack Obama has managed to deflect accusations of wrongdoing and impropriety with ease. Republicans on Capitol Hill are determined to put that to an end by making him pay for the unfolding scandal at the Internal Revenue Service. “Ultimately responsibility lies with the president. Obama has spent the better part of the last five years doing non-stop campaigning,” says a senior Republican Senate aide who points to the administration’s larger pattern of “using political offices to intimidate and harrass” its opponents. “When bureaucrats see the leader
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Posted By: Dreadnought- 5/19/2013 10:41:20 PM
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Posted By: Dreadnought- 5/19/2013 10:39:22 PM
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When the Justice Department began investigating possible leaks of classified information about North Korea in 2009, investigators did more than obtain telephone records of a working journalist suspected of receiving the secret material. They used security badge access records to track the reporter’s comings and goings from the State Department, according to a newly obtained court affidavit. They traced the timing of his calls with a State Department security adviser suspected of sharing the classified report. They obtained a search warrant for the reporter’s personal e-mails. The case
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Posted By: MissMolly- 5/19/2013 11:33:33 AM
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What did President Obama do on the evening of 9/11/12 when our men were under attack in Benghazi? The invaluable Andrew McCarthy reminds us that Obama and Secretary Clinton had a 10:00 p.m. phone call of which many (including, I think, Chris Wallace) have lost sight. This morning when Wallace asked Obama aide Dan Pfeiffer what Obama was up to that evening, Pfeiffer declared the line of inquiry “offensive.” Translation: Obama and his minions would prefer to “move on” and are warning the likes of FNC off:(Snip for video)The Weekly Standard’s Daniel Halper has posted the rush transcript
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WASHINGTON – The Internal Revenue Serviced scandal today spread further within the White House and closer to President Obama. White House spokesman Jay Carney today disclosed that Obama’s chief of staff, Dennis McDonough, and other top White House officials had advance warning that the IRS was targeting conservative groups. But he insisted McDonough and the other White House officials purposely kept Obama out of the loop.McDonough “rightly chose not to take action” to inform Obama, Carney told reporters at the daily White House briefing.
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WASHINGTON – White House senior adviser Dan Pfeiffer said Sunday Republicans owe Susan Rice, the U.S. ambassador to the United Nations, an apology for alleging she played a part in formulating the White House’s response to the attacks in Benghazi, Libya, last year that killed four Americans. Pfeiffer said on ABC’s “This Week” that the release of more than 100 pages of Benghazi emails and notes show “beyond a shadow of the doubt” that accusations she tried to change the narrative of what happened in the attacks was false. "And, frankly, I think that many of the Republicans
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