The value of US fuel exports has grown faster than other goods and commodities during Barack Obama’s presidency, according to a Financial Times analysis, emerging as a driving force behind his goal to double exports by 2015.
The data offer further evidence of how the US domestic energy boom – led by expanding oil and natural gas production and higher prices – is reshaping its economy.
The US became a net exporter of fuel in 2011 for the first time in two decades, as rising exports combined with slower imports.
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