📈 The Shale Revolution's Impact on the U.S. Economy

From Fuels Large Trade Deficit (2005–2012) to Trade Surplus Since 2019

Following a Peak Trade Deficit of $425 Billion in 2008, the Fossil Fuels and Products Trade Deficit Shrunk Significantly. By 2019, it Turned into a Surplus, Reaching $57 Billion in 2023. While high energy prices were a key factor in the large trade deficits from 2004 to 2008, the elevated prices in 2022 did not lead to a similar trade deficit.