Friday, January 13, 2012

Petroleum, Fuel Lead U.S. Exports in November

 Top 15 U.S. November Exports   Millions 
1Petroleum products $5,032
2Fuel oil$4,780
3Pharmaceutical preparations$4,356
4Industrial machines, other$3,881
5Semiconductors$3,508
6Chemicals-organic$3,470
7Civilian aircraft$3,260
8Telecommunications equipment$3,048
9Electric apparatus$2,929
10Plastic materials$2,839
11Medicinal equipment$2,718
12Nonmonetary gold$2,638
13Computer accessories$2,595
14Industrial engines$2,405
15Engines-civilian aircraft$2,386

Source: BEA

According to today's BEA report on international trade in goods and services for November, the top two U.S. export categories were: 1) petroleum products ($5 billion) and 2) fuel oil ($4.78 billion), see chart above of the top 15 November exports. On a year-to-date basis through November, those same categories are the top two exports for 2011.  

See previous CD post here about how the U.S. will be a net exporter of petroleum products in 2011 for the first time in 60 years.

15 Comments:

At 1/13/2012 3:41 PM, Blogger juandos said...

Meanwhile according to ABC news we have this: U.S. Bridges, Roads Being Built by Chinese Firms

How does that work???

 
At 1/13/2012 4:34 PM, Blogger Larry G said...

gasoline prices seem to have gone up 20 cents in about a month...

hmmmm

 
At 1/13/2012 4:54 PM, Blogger juandos said...

"gasoline prices seem to have gone up 20 cents in about a month"....

Can you say Iran?

 
At 1/13/2012 4:57 PM, Blogger Larry G said...

Can you say Iran?

Can YOU say " "Petroleum, Fuel Lead U.S. Exports in November"

;-)

 
At 1/13/2012 5:42 PM, Blogger Paul said...

"gasoline prices seem to have gone up 20 cents in about a month..."

Somehow we have to figure out how to boost the price of gasoline to the
levels in Europe."

– Obama Energy Secretary Steven Chu.

 
At 1/13/2012 5:54 PM, Blogger AIG said...

I thought all the likes of Rick Santorum were complaining that American manufacturing was in decline?

How do they figure that?

 
At 1/13/2012 6:11 PM, Blogger Buddy R Pacifico said...

What country is the biggest customer for U.S. petroleum products?

Mexico, at about twenty percent of U.S. production.

 
At 1/13/2012 8:17 PM, Blogger Junkyard_hawg1985 said...

This comment has been removed by the author.

 
At 1/13/2012 8:17 PM, Blogger Junkyard_hawg1985 said...

7 of the top 15 are product with significant input from chemical engineers. America needs to have more chemical engineers.

 
At 1/14/2012 1:15 AM, Blogger Rufus II said...

November IMPORTS of Crude Oil, Petroleum Products, and Fuel Oil were 37,218,000,000.00.

BEA Data

 
At 1/14/2012 1:26 AM, Blogger Rufus II said...

$37,218,000,000.00 - $9,812,000,000.00 = $27,406,000,000.00

That would be a Trade Deficit of $Twenty Seven Billion, Four Hundred and Six Million in November in Oil, and Petroleum Products.

 
At 1/14/2012 2:31 AM, Blogger Rufus II said...

According to Mastercard, we're using less gasoline than when they started keeping track in 2004, yet gasoline prices have more than doubled since then.

The reason is obvious. Our lower to lower-middle income consumers are getting outbid more, and more often, by an emerging middle class in the Non-OECD World.

Complicated, of course, by global crude oil production remaining basically flat since then.

 
At 1/14/2012 10:07 AM, Blogger Hydra said...

Rufus correctly points out the obvious problem with this post.

Count on fuel rices continuing to rise and creating more of a drag onthe economy with people driving less over time.

 
At 1/14/2012 9:28 PM, Blogger juandos said...

"I thought all the likes of Rick Santorum were complaining that American manufacturing was in decline?"...

Well aig it is in certain states and certain industries, right?...

From the Federal Reserve Bank of Chicago blog, dated Aug. '10: Is U.S. Manufacturing Disappearing?

By William Strauss

The money lines: 'By 2006, the U.S. economy employed about as many workers in manufacturing as in 1950, just over 14 million. And so, looking at manufacturing employment alone leads one to believe that the sector is in decline or at best stagnant.

However, a very different conclusion emerges if you focus on the amount of goods being produced by the manufacturing sector. While employment has changed very little over the past 60 years,[3] output in manufacturing has increased at an annual rate of 3.4%. Manufacturing output in 2007 (the recent peak in manufacturing output) was over 600% higher than in 1950
"...

 
At 1/16/2012 12:54 PM, Blogger Hydra said...

Manufacturing output in 2007 (the recent peak in manufacturing output) was over 600% higher than in 1950"...

=============================

Peak Work.

 

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