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U.S. Trade Deficit and Oil Price Impact is a document available to read on EtoBox.

Rising oil prices in 2008 significantly increased the U.S. trade deficit. The combination of sharply higher prices for energy imports and a slight decline in import volumes added an estimated $50 billion to the trade deficit in 2006 and $28 billion in 2007. While energy import volumes fell 4% in the first 8 months of 2008 compared to the previous year, prices surged 63.5% over the same period, again widening the trade deficit substantially.

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