Howard Gruenspecht News
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The U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo triggered a recession and led to lines at gasoline stations.
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The U.S. will become a net exporter of liquefied natural gas in 2016 as hydraulic fracturing boosts domestic supplies, the Energy Information Administration said.
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Adam E. Sieminski, the chief energy economist at Deutsche Bank AG and an oil market analyst for almost 40 years, was nominated by President Barack Obama to head the U.S. Energy Information Administration.
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Chesapeake Energy Corp., the second- biggest natural-gas producer in the U.S., accelerated an industry effort to cut back drilling to try to stop a price decline that saw gas slide to a 10-year low last week.
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Natural gas production in the U.S. will rise to record levels this year and in 2013 on increased output from shale formations, the government said.
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Tumbling crude oil might reduce U.S. summer gasoline prices by 25 cents a gallon, the Energy Information Administration said today.
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Oil prices will rise to $108 a barrel by 2020 as a global economic rebound boosts demand, the U.S. Energy Information Administration said today.
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Gasoline prices will be at the lowest level since March as U.S. drivers take to the highways this Memorial Day weekend, the traditional start of the summer driving season in the world’s largest energy-consuming country.
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