Spend Some Time On This Graph -- Many, Many Story Lines -- Big Implications -- March 18, 2018

Two data points not seen in the graphic below:

• Mexico will elect a leftist/socialist for their next president this summer
• Trump has just named Larry "drill, baby, drill" Kudlow as his national economic advisor

But spend some time on the graphic.

There are many, many story lines and the implications are profound.

The graphic:

Some initial comments (beware: these are dollar amounts -- not volume):

• it is staggering to see how little oil the US actually imports from Mexico now, and how fast those imports have dropped in less than four years (measured in dollars); for volumes, see this link
• the US no longer imports any natural gas from Mexico; in fact, Mexico is importing ever more natural gas from the US -- that is really quite amazing when one thinks about that -- on so many levels; and,
• then, of course, look at the refined petroleum products exported/imported (again, measured in dollars)

Clearly, one of the big stories this decade will be Mexico, the US, and energy.