The U.S. trade deficit in petroleum products is finally shrinking. Policies that foster better fuel economy, increased oil production, and expanded use of renewable fuels have helped reduce our reliance on imported fuels from 60% in 2005 to 40% in 2012—and the trend continues. By keeping more of the roughly $430 billion spent on foreign oil in 2012 here at home, we can stimulate the economy and create more American jobs.

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