July 2014, Vol. 241, No. 7

Features

North American Production Still Accelerating, ICF Says

An ICF report determined shipping oil overseas would spur the U.S. economy, lowering gasoline prices in the process. “Allowing crude exports would reduce refinery margins due to higher domestic crude costs and slightly lower U.S. and global petroleum product prices,” said the study, done on behalf of the American Petroleum Institute (API). Overall, ICF analysts concluded exporting U.S. crude would save consumers $5.8 billion a year on petroleum products over the next 20 years. In addition, the report offered the following findings: • In the short run, reduced gas-directed drilling activity will continue to slow gas production growth from “dry” g

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