American Oil Imports Hit 45 Year Low

America is importing less oil than any time in the last 45 years.

In 2005, America imported 60.3 percent of its oil. In 2015, the U.S. only imported 24.2 percent. Economist Dr. Mark Perry of the American Enterprise Institute attributes the decline in petroleum imports to the development of hydraulic fracturing, or fracking, of American shale.

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