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U.S. oil reserves post record gain

2013-08-01 11:38:00| Climate Ark Climate Change & Global Warming Newsfeed

CNN: U.S. oil reserves posted their biggest gain ever in 2011, largely thanks to the controversial hydraulic fracturing production technique, according to a new report. The country had 29 billion barrels of "proved reserves" in 2011, a 15% increase from the 25 billion barrels in 2010, the Energy Information Administration said Thursday. It was the third year in a row that the United States posted such an increase, and it's the highest amount of this oil the country has had since 1985. Not surprisingly,...

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