The U.S. shale boom is big, but not an economic silver bullet
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One front where the U.S. is closing its trade deficit: oil and gas. The International Energy Agency’s new World Energy Outlook forecasts astounding growth in U.S. shale oil production, a growth rate that rivals that of Saudi Arabia at its fastest. The agency said the U.S. will eventually sell more oil than it buys, and while that’s big energy news, it’s not enough to fuel the entire economy.
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