This entry was posted on Monday, June 29th, 2009 at 12:38 pm and is filed under Comodities.
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I think we should nationalize Mosler Automotive. The MT900 is such a lightweight car that gets such good gas mileage, every american citizen should drive one. This will help with our fuel demand. Building all these mt900 to give to all 200 million driving americans will also help employ a lot of laid off autoworkers. Then we can reduce the national speed limit to 30mph! Warren do you support my plan?
Related to crude import levels and price:
I’ve linked to recent crude import levels here: http://tonto.eia.doe.gov/dnav/pet/hist/wceimus2w.htm
If you look at the last couple of months, I’d estimate that we’re importing about 9M bbls per day avg. (Confess I didnt do the exact math)
Then the net import effect of the $30 ($40 – $70) per bbl run-up we’ve had over the same time period: 9M bbls per day x 30days X $30/bbl = about $8.1B per month or $96B per year annual rate.
So thru some channel, I guess this is crude’s recent contribution to the US account deficit.
This increase, on margin, is enough to service about $1T of external USD denominated debt for a year @ 9.6% or so +/-; in this regard it is probably important to external USD lenders for crude to hold these levels.