Horizontal drilling, fracking wells, high pressure wells, etc. are all bringing back a boom not seen in the U.S. since the late 1970’s. If we only had a President and Congress that was committed to developing all our Oil, Natural Gas, and Coal reserves, we could cut our trade deficit and not have to rely on Saudi Arabia and Venezuela for our energy needs.
We are reducing the trade deficit due to reducing our oil imports. We still import too much, but by importing more than we use, using our refining surplus capacity, we also export some more expensive refined product that helps even more.