Dropping gas prices..
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American oil production is still booming in Texas and other energy-rich states despite the oil price crash and resulting mass layoffs and shuttered drilling rigs, raising the question of what it’s going to take to stop the fracking revolution.
A worldwide oil glut has driven oil prices down more than half since the summer, one of the largest price collapses in history. Nevertheless, U.S. crude oil production is forecast by the Department of Energy to increase to its highest level in more than 40 years.