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Shale Boom Shifts Into Higher Gear

By Donald Luskin & Michael Warren, Wall Street Journal - June 1, 2015

Have the American entrepreneurs who developed horizontal drilling and hydraulic fracturing—“fracking”—done their jobs too well? The increase in domestic crude oil production of 3.6 million barrels a day in less than four years, reversing almost four decades of decline, has created a spectacular macroeconomic anomaly—a crash in oil prices without a recession to cause it.

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