The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Adnan Z. Amin (L), who was elected director-general of the International Renewable Energy Agency (IRENA), speaks with Denmark's Crown Prince Frederik (C) during the Abu Dhabi Sustainability Week, January 20, 2014.
Adnan Z. Amin (L), who was elected director-general of the International Renewable Energy Agency (IRENA), speaks with Denmark's Crown Prince Frederik (C) during the Abu Dhabi Sustainability Week, January 20, 2014.
(Ben Job/Reuters)

America's trade gap filled by petrodollars

The prospect of American energy independence is getting a lot of people excited, whether it is Democrats waxing romantic about an industrial renaissance or Republicans rejoicing in the snub to OPEC implied by less dependence on imported oil. Few, however, are looking at the swelling petroleum exports and considering how that might reduce America’s trade deficit and lead to a stronger dollar.