Investing in US Oil and Gas Production Helps Narrow Trade Deficit

ND OilMany economists expect the trade deficit will continue to narrow as exports, helped by the U.S. energy production boom, are growing faster then imports.  Our domestic energy boom has boosted exports while reducing America’s dependence on foreign oil.  U.S. petroleum exports rose to an all time high of $137b, up 11% from 2012.  Energy imports fell 10.9% to $369b replaced by domestic sources.  For the first quarter of 2014 petroleum exports are up 7% while imports are down 3.4%

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