Europe may restrict their oil imports to the US
Updated on
Thursday, May 24, 2007 in
OIL
Thursday, 24 May 2007
Large US imports of gasoline, mainly from Europe, are starting to raise questions. Last weekend gasoline in Germany went over $7 per gallon and analysts are talking about the possibility of $8 gasoline later this summer. The Europeans note that the US is now importing roughly 1 out of every 8 gallons of gasoline consumed and that there is no end to this imbalance in sight.
Some Europeans are beginning to ask whether their governments should be taking action to slow the exports to the US.
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