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Title : US Energy Trade Balance -- Idle Rambling -- EIA Graphic -- October 20, 2018
link : US Energy Trade Balance -- Idle Rambling -- EIA Graphic -- October 20, 2018

US Energy Trade Balance -- Idle Rambling -- EIA Graphic -- October 20, 2018

From twitter:

This is a most interesting graph.

• Time line:
• • two lost decades + first year of Trump administration
• Big picture:
• • Bush II: 2000 - 2008 -- "energy" imports went from $100 billion to an astounding $500 billion; even importing coal; what the heck was he doing? looks like something one would expect from a "Jimmy Carter" presidency
  • Obama: 2008 - 2016 -- incredibly, he stopped the bleeding; of course, a lot of this was due to the economy, but with regard to energy, mano a mano, Obama has bragging rights; following Bush II, under Obama things turned around
• Coal: 
• • the US actually imported coal during the Bush II years; what was that all about?
  • that ended with Obama (2013 may have been an exception)
  • not only that, but coal exports in 2011 - 2012 (Obama) remarkable 
  • after dropping back to "zero," US coal exports resumed in Trump's first year
• Natural gas:
• • imports picked up in Bush's fourth year and then reached "steady state"
  • shale gas revolution turned that around during Obama's presidency
  • look at the amount of blue (imports) during the Bush years; how fast that changed during the Obama years
  • still not seeing the "natural gas export story"; that should change (but ...)
• Petroleum products:
• • 2015 - 2016: an anomaly; an interruption of the inevitable; slowdown due to global economic downturn? Saudi Surge occurred at this time but not sure how the Saudi Surge would affect US petroleum products exports
• Crude oil imports:
• • at some point, we might see crude oil imports / exports balance out
  • US needs foreign heavy oil to balance the glut of its domestic light oil

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