oil imports

Japan's current account surplus in August shrank 52.5 percent from a year earlier as the country's spending on oil imports soared, the Finance Ministry said Wednesday.

(University of Illinois at Urbana-Champaign) In his State of the Union Address on Jan. 23, 2007, President Bush stated that, in order to substantially lower foreign oil imports, "We must increase the supply of alternative fuels, by setting a mandatory fuels standard to require 35 billion gallons of renewable and alternative fuels in 2017."

Japan posted a rare trade deficit in August on soaring oil imports and falling car exports, the government said Thursday, underscoring evidence that external forces are exacerbating the country's economic gloom.

America’s trade deficit shot up in July to the highest level in 16 months as oil imports hit an all-time high. The deficit with China climbed to the second-highest level on record.

America’s trade deficit shot up in July to the highest level in 16 months as oil imports hit an all-time high, a U.S. government report showed on Thursday.

Three companies plan to build an oil terminal and pipeline network off the Texas Gulf Coast capable of handling nearly 20 percent of the nation's daily imported oil.

Government data released Tuesday showed that the trade deficit unexpectedly fell in June as exports advanced to an all-time high, offsetting another big surge in oil imports.