A Shrinking U.S. Trade Deficit—Brought to You by Fracking – Businessweek
A Shrinking U.S. Trade Deficit—Brought to You by Fracking – Businessweek: US trade deficit is shrinking. Rapidly. The reason is the import of oil is a very expensive commodity. By the end of this decade, North America should be trade neutral on energy and then move to a surplus thereafter. At peak, the US trade deficit was about 6% of GDP. That is, our GDP would be reduced by the oil that is not produced…