Perspectives Blog

Rebalancing the U.S. economy

Marie M. Schofield, CFA, Chief Economist and Senior Portfolio Manager | January 13, 2014

…domestic energy production and the diminishing dependency on oil imports which materially narrow trade deficits. Petroleum imports fell 6% (the lowest level since 1996), and petroleum exports rose 4% (to record highs) adjusted for inflation. The shale revolution together with increased energy efficiency has put the U.S. on the path toward energy independence, which can lower domestic energy costs and boost production onshore. Finally, one area th…