Graphs

According to this graph the US oil production continued to grow steadily between 1920 and 1970, reaching its peak in 1970. While the US oil production was growing, the US oil imports remained steady at a very low rate of million barrels per day from 1920 to 1950, followed by a slight increase until 1970.
While the domestic oil production dipped in 1978, followed by a slight recovery from 1978 to 1985, the oil imports shot up and reached a peak in 1979. However, the imports production plunged in 1985. These trends could have been due to the oil crisis that started in 1973 when the members of OAPEC proclaimed an oil embargo.
After 1985 the oil production continued to drop until 2005, while the oil imports had a rapid recovery over the 1985-2005 period.







This chart illustrates the rapid expansion of China’s exports and imports over the 2003‐2006 period. It is clear from the graph above that Chinese exports and imports are following the same trend showing a continued growth over this period. The fluctuating growth at exports and imports witnessed two peaks: one in 2004 and another one between 2005 and 2006. However, this fluctuation doesn’t seem to bring a significant change in China’s exports and imports continue growth.

A possible explanation for this trend could be due to the fact that China has been actively participating in the globalization process, with a continuously expanding scale of international trade.