Trade Deficit and Oil Hit New Highs
On a morning when the United States racked up its worst quarterly trade deficit in history, oil climbed above $57 a barrel on news that US refineries were operating near capacity and the Bush Administration announced that gasoline inventories were lower than they had estimated. We are one refinery "closure" away from serious problems this summer. But ExxonMobil will still be happy, especially with Phil Cooney back aboard, after having successfully fending off any action on global warming for four years.
After being in office and having total control of the government for most of the last four years, donít we have wonderful trade and energy policies?