That sucking sound you hear is our oil money going to fuel OPEC.US imports rose 1.8 percent to $221.2 billion in June after increasing 0.3 percent in May.
The trade import figures reflect a staggering record $44.5 billion in purchases of foreign petroleum as well as record purchases of industrial supplies from overseas and increased demand for foreign-made autos and parts.
A barrel of imported crude oil cost $117.13 in June, up from $106.28 the previous month, according to the just-released trade report.
Most troubling of all, is the trade imbalance the US has with OPEC cartel countries. The OPEC deficit expanded by $200 million to a record $18.1 billion.
That's Billions (with a B) leaving the US to countries that really, really hate us.
Source: US Commerce Department
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