June’s crude oil exports hit their highest level since 1957, according to the U.S. Census Bureau. The summer boom is being driven predominantly by big increases in Canadian imports of U.S. oil.
Gas production in the Marcellus shale formation is booming, producing more than seven times the amount of gas per day than it did just four short years ago.
A recent report from Bank of America finds that the U.S. is the world’s top oil producer, surpassing even Saudi Arabia. Fracking has completely remade the American energy landscape, and President Obama must surely be grateful for the respite from bad news.
U.S. emissions dropped 3.4 percent in 2012, more than double Europe’s less impressive reductions. America is taking the green lead not through elaborate subsidy schemes, but because of better energy efficiency and the bounty of natural gas that fracking has provided.
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