AlwaysWrite
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For many years, the United States has run a trade deficit, importing more than it exports. And since 2008, the petroleum trade deficit has been declining steadily in line with steady increases in American shale production.
There are two simple ways to reduce a trade deficit: Import less or export more. However, with the U.S. dollar continuing to appreciate, the chances of the U.S. importing less remains low as foreign goods and services become cheaper.
If U.S. regulators were to lift the roadblocks that limit this nation's ability to send oil abroad, the petroleum deficit could be eliminated and the trade deficit could be unwound.
There are numerous potential buyers of energy in Europe who would prefer to buy their energy from a more-stable supplier such as the U.S.
It makes sense to reduce American reliance on foreign oil and increase sales of U.S. oil, but for that to happen, regulations must line up with demand.
There are two simple ways to reduce a trade deficit: Import less or export more. However, with the U.S. dollar continuing to appreciate, the chances of the U.S. importing less remains low as foreign goods and services become cheaper.
If U.S. regulators were to lift the roadblocks that limit this nation's ability to send oil abroad, the petroleum deficit could be eliminated and the trade deficit could be unwound.
There are numerous potential buyers of energy in Europe who would prefer to buy their energy from a more-stable supplier such as the U.S.
It makes sense to reduce American reliance on foreign oil and increase sales of U.S. oil, but for that to happen, regulations must line up with demand.