There are several reasons why today's blog should be of great interest. Last year, the petroleum-related trade deficit totaled $265 billion and accounted for 42 percent of our total deficit in goods. To put this in more personal terms, $265 billion averages to about $850 for every woman, man and child in the U.S. In 2008, when oil prices hit their all-time high, the petroleum-related deficit totaled $386 billion (over $1,260 for each person). That's a lot of money flowing out of the country for a commodity with a volatile price over which we have little control.