The impact of Oil Prices on the Economy

"U.S. Trade Deficit Rose 15% in January on Higher Oil Prices". New York Times Associated Press. March 10, 2011.

With higher oil prices the deficit had rose by 15.1% which is affecting the growth of the economy. The percentage of imports had exceeded the percentage of exports due to the oil issue. Not only the United is States is being effected by this issue, but also China had stated a deficit.

http://www.nytimes.com/2011/03/11/business/economy/11econ.html?ref=unitedstateseconomy