EIA: Shale boom could bring record US oil output in 5 years
NEW YORK — U.S. crude oil production, rejuvenated by the advent of “fracking” shale formations, will approach historic highs by 2019, the Energy Information Administration said Monday, raising its forecast to levels that would have been unforeseen just a few years ago.
The U.S. oil and gas industry has been a bright spot in recent years as the economy struggles to recover from a financial crisis and growth stagnation.
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