US Oil Production and Pump Prices Both at Record Highs

According to a recent report by Bank of America, the United States has surpassed Saudi Arabia as the world’s biggest producer of oil: “The U.S. increase in supply is a very meaningful chunk of oil,” Francisco Blanch, the bank’s head of commodities research, said by phone from New York. “The shale boom is playing a key role in the U.S. recovery. If the U.S. didn’t have this energy supply, prices at the pump would be completely unaffordable.” Oil extraction is soaring at shale Read more […]