U.S. Commerce Department data released Jan. 7 show , as oil imports fell , the U.S.

trade deficit in November last year hit 4 -year low , again highlighting the U.S. shale oil and gas development impact on its economy and international geopolitical pattern . Data show that last year the U.S. trade deficit narrowed sharply in November to $ 34.3 billion , better than economists expected and the highest since October 2009 lows. Bloomberg said the decline in oil imports , promote trade deficit in November last year hit 4 -year low , showing the United States is becoming more " energy independence ." Because of increased domestic oil and gas exploration , the month U.S. crude oil imports hit 3 -year low , price and quantity both declined . Advances in hydraulic fracturing and horizontal drilling technology, the American rich shale oil and gas resources have been developed to enhance the domestic energy production. Paris-based International Energy Agency forecast report released earlier , in 2015 , the United States is expected to surpass Saudi Arabia and Russia to become the world's largest oil producer. "Petroleum products are a major contributor to the U.S. trade deficit narrowed ." American Economic analysts "Global Perspective " economist , told reporters that from the beginning of 2012 , the U.S. trade deficit would decline. This improvement , on the one hand due to growth in exports , partly because imports remained largely unchanged . In the composition of imports , imports of petroleum products is declining, but imports of other products to rise slowly. Export and import of petroleum products net of outside growth, reflecting in the case of world economic recovery , the U.S. external demand and domestic demand are enhanced. New York-based economist at FTN Financial Management , said Chris Lowe , more energy produced in the United States of emerging trends and the future will be strengthened. U.S. Energy Information Administration data show that in the last week, the U.S. crude oil production reached 812 million barrels per day , a 25 -year high . Some economic effects of oil shale brought prosperity has emerged . Currently, the U.S. natural gas prices significantly lower than Asian and European markets, including chemical companies , including some of the manufacturing companies have set up a new plant in the United States. Analysts believe that the United States is no longer as dependent on Middle East oil supply as in the past , this will lead to global geopolitical situation has undergone major changes.

Shale gas development has also led to a debate about whether the United States to repeal the ban on exports of crude oil . Republican senator from Alaska Lisa Murkowski in a speech at the Brookings Institution January 7 , called for the abolition of the ban , saying it should be abolished before impede U.S. oil production. It is reported that in the 1970s after the Arab oil embargo led to the energy crisis , the United States in 1975 passed a law banning the export of crude oil in the vast majority . The passage of time , as the U.S. domestic oil production rise , some people think that the ban is outdated . Representatives of U.S. interests in the energy sector American Petroleum Institute also called for the abolition of the ban . However , a lot of people opposed to the abolition of the ban . They believe that the U.S. is far from achieving true energy security , increased use of domestic crude oil production should remain in the United States .
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