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More than 70 percent of that production has occurred in the last two years.
The U.S. Energy Information Administration is on track next month to issue two highly anticipated reports that will shape the debate over exporting crude, including an analysis of how the price of oil around the globe affects gasoline costs inside the United States.
President Barack Obama’s new pollution limits for power plants have set off an avalanche of information about what the rules will cost and how far they will go toward curbing climate change. One problem: Almost none of it is based in reality.
More than one of every three barrels of U.S. crude is pumped in Texas, according to the latest monthly figures from the federal Energy Information Administration.
Rising crude and gasoline prices stoked by unrest in Libya and the Middle East has inspired a statistical war over domestic oil production that pits the Obama administration against offshore drilling advocates. Now an American Petroleum Institute official is accusing the administration of taking credit for decisions made long before the president took office.