Obama Vow on Exports Is on Track, With Help

Ok guys, once again it is time to find the dark cloud in the silver lining.

WASHINGTON — Two years ago, President Obama popped a surprise into his State of the Union address: His administration would double American exports in five years, helping to create two million jobs.

The bold promise sent the eyebrows of economists and policy experts upward, even as they applauded its intent.

“How will he perform this miracle?” Leslie H. Gelb, president emeritus of the Council on Foreign Relations, asked at the time. “It really is a mystery.”

Two years later, the administration is on track — for now — to meet its ambitious goal. Growing exports have been one of the central drivers of the recovery, accounting for about half the nation’s economic growth since the recession ended. Economists say the administration deserves credit for some of the gains. It has pressured China to increase the value of its currency and open its markets to American businesses. It has worked closely with American companies looking to sell goods and services throughout the world.

Exports are running at about $180 billion a month, according to Commerce Department data, up from $140 billion a month two years ago. They are currently growing at an annual pace of about 16 percent — a percentage-point higher than necessary to double exports to $3.1 trillion by 2015.
http://www.nytimes.com/2012/01/21/business/us-on-track-to-meet-goal-of-higher-exports.html

 

And to think only a couple of weeks ago you made a post complaining about oil exports and the need for the XL pipeline.

 

Ahhhhhh No I didn't.

 

Are these your words?

"Interesting turn of events? This seems to fly in the face of Drill baby drill and the necessity to build a pipeline across the middle of the county. It seems that lower demand through a slower economy and more fuel efficient cars has only made the oil companies sell their product abroad and has done very little to lower our domestic gas prices. Seems like the Right's arguments really aren't holding much water.

Gas And Other Fuels Are Top U.S. Exports, For First Time"

 

Oops

 

Are you just as ignorant of the facts as rlm? Canadian oil does NOT consititue U.S. exports.

 

I guess that polo shirt made in China doesn't constitute a US import because it is made out of US Cotton?

 

OMG, we don't export the Canadian oil. It gets refined and then we export the diesel, gasoline, styrene, ethylene, propane, detergent, ect. and so forth. The refined products sell for more than the crude oil. If we were to export all the products refined from the oil, out NET exports wold decrease (AKA balance of trade).

BTW, I would also guess that the more oil we get from more stable countries rather than the Arabs and Chavez, the price of crude would further decrease. That would also decrease our imports.

 

Really, instead of just admtting you're wrong, this is all you have?

 

I realize there is little politically we agree on, but you really are not that thick, are you?

 

Were those your words or not?
As RLM posted above the Canadian oil is going to be refined in the US-value added-just like that polo shirt manufactured in China with US cotton.

 

We do sell raw materials to many countries. That doesn't mean that we get to count their finished products as OUR exports. Are you seriously making that argument?

 

Avoidance
Avoidance

Did you not just post this?
"Are you just as ignorant of the facts as rlm? Canadian oil does NOT consititue U.S. exports."

I posted this - as you can see it is in the form of a question.
"I guess that polo shirt made in China doesn't constitute a US import because it is made out of US Cotton?"

So just what are you saying here? Is this your arguement?
Products manufactured in China from imported raw materials DO constitute China exports but products manufactured in the US from imported raw materials (Canadian Oil) DO NOT constitute US exports?

Sorry but I find your logic here very conflicting

 

On the one hand you are correct that a country buys raw materials abroad and uses those raw materials to produce a product and then sells those finished products to domestic or foreign markets. On the other hand, you are wrong about the Canadian oil in this situation. The raw product being imported here is Canadian oil. U.S. refineries will process the raw material into diesel fuel and other low grade petrol produces but the finished product still belongs to Canada, not the U.S., and it will be sold on the world oil market just like all petroleum products are.
I am sorry that I used the word ignorant and I am really sorry I compared you to rlm. I just keep correcting people when they say that this is a U.S. export and that it will reduce our dependence on foreign oil and I thought that you were saying it again. As far as everything that I have read so far, the only part the U.S. has in this oil processing is the refining and even the finished product isn’t going to be sold domestically. If you know something differently, please post it.

 

Just where on earth did you dig that up? There is just no way a refinery could segregate oils sources to even enable what you are talking about. Please show one reference that implies this happens.