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(AP Photo/Hasan Jamali)

US oil boom’s end in sight, feds say

U.S. oil production is on track to reach a near historic high by 2016, before leveling off and eventually beginning to taper in 2020, according to a new federal forecast.

BP: Oil will remain king for transportation through 2030

British oil giant BP expects unconventional sources of energy to play an increasing role in the world’s energy mix over the next 20 years, but it believes oil will remain the primary fuel for transportation.
Categories: General
(Buster Dean/Houston Chronicle)

Oil production to grow at fastest rate ever

With rising crude production, gasoline prices are expected to drop from $3.63 per gallon of regular in 2012 to $3.34 in 2014, according to the federal projections.