U.S. Oil & Gas Reserves Breaks Record

The United States has surpassed the 1970 record for proven oil and gas reserves, roughly doubling the amount of discovered petroleum in the ground in the past decade, the federal government said Thursday.

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The U.S. shale boom has unlocked large volumes of oil and gas, currently driven by drilling for crude oil in West Texas’ booming Permian Basin and for natural gas in the Marcellus and Utica plays in Pennsylvania and neighboring states. [read more]

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