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I went to a Energy trader conference in Zurich last week and listened in on a lecture on how U.S. oil production is up for the first time in 30 years or so. It was interesting to hear the impact this could have on the U.S. deficit for the coming years (assuming oil production technology continues to improve). A surge in U.S. production will contribute to a re-balancing of the trade deficit, since 60% of imports are energy related. Also, U.S. defense spending is closely related to oil imports (Iraq wars, super carriers placed in the Gulf etc.) and is now being scaled back. I have a bullish outlook on the U.S. for the years to come think a downgrade is unlikely.
Voted yes because IMO (Moody's and S&P appearing to tag team each other at the moment) the country cannot endure both the existing degree of central planning as well as a stalemate among central planners much longer, not sure the election will change much.
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