Opinion: US Oil Booms and Nowhere to Sell It

Posted on June 14, 2013 at 6:49 am by Bloomberg in Crude oil, Exploration, Natural gas

Just when we were getting used to the surge in natural gas production, a second unexpected U.S. energy boom enters the picture: oil.

Last year, thanks to drilling technologies that can access hydrocarbon deposits trapped in deep rock, American crude-oil output rose to 8.9 million barrels a day — an increase of more than a million barrels, the largest in U.S. history.

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