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U.S. oil boom affecting global prices

Posted on 01 July 2013

$5.60: The price difference between benchmark oil prices in the U.S. and overseas. The U.S. oil boom is finally affecting global energy prices — but don’t expect cheap prices at the pump as a result.
U.S. oil production peaked in the early 1970s and has been on a more or less steady decline ever since. Or at least, that was the case until five years ago, when the fracking boom in North Dakota and elsewhere led to a sudden surge in domestic crude production………………………………….Full Article: Source


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