International Trade and Finance Speech:
Good afternoon ladies and gentlemen, I would like to share with you on the current state of the U.S. macro-economy, highlighting the internal and external factors that affect it. Macroeconomic analysis seeks to forecast economic conditions by monitoring and gauging the behavior of several broad areas including gross domestic product (GDP) - which is simply national output, the rate of unemployment, and the state of currency inflation.
According to the U.S. Department of Energy's Energy Information Administration (EIA), America tops the list of the world's largest oil consumers with a consumption rate of 18.8 million barrels per day (MBD). Concurrently, the U.S. ranks third in the worlds list of top oil producers at 9.1 MBD. The 9.7 MBD shortfall between U.S. oil production and consumption is the main contributor to country's trade deficit (Smith, 2011).
Foreign oil dependence means America's business and consumer trends are...
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