U.S. Trade Deficit and the Impact of Rising Oil Prices Metadata

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Title

  • Main Title U.S. Trade Deficit and the Impact of Rising Oil Prices

Creator

  • Author: Jackson, James K.
    Creator Type: Personal
    Creator Info: Foreign Affairs, Defense, and Trade Division

Publisher

  • Name: Library of Congress. Congressional Research Service.
    Place of Publication: Washington D.C.

Date

  • Creation: 2008-08-12

Language

  • English

Description

  • Content Description: Petroleum prices have continued to rise sharply in 2008, at one time reaching more than $140 per barrel of crude oil. At the same time the average monthly volume of imports of energy-related petroleum products has fallen slightly. The combination of sharply rising prices and a slightly lower level of imports of energy-related petroleum products translates into an escalating cost for those imports. The prices of energy imports have been on a steady rise since summer of 2007, defying the pattern of declining energy import prices in the fall. This report provides an estimate of the initial impact of the rising oil prices on the nation's merchandise trade deficit.

Subject

  • Legislative Indexing Vocabulary: Trade
  • Legislative Indexing Vocabulary: Balance of trade
  • Legislative Indexing Vocabulary: Imports
  • Legislative Indexing Vocabulary: Energy
  • Legislative Indexing Vocabulary: Energy prices
  • Legislative Indexing Vocabulary: Petroleum prices

Collection

  • Name: Congressional Research Service Reports
    Code: CRSR

Institution

  • Name: UNT Libraries Government Documents Department
    Code: UNTGD

Resource Type

  • Report

Format

  • Text

Identifier

  • CRS Report Number: RS22204
  • Accession or Local Control No: RS22204_2008Aug12
  • Archival Resource Key: ark:/67531/metacrs10645