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SEP 13, 2013 - Investors Business Daily

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U.S. Shale Boom Lifts Petroleum Exports, Cuts Imports

The surge in domestic energy production that shale fracking has unleashed is boosting U.S. petroleum exports and reducing reliance on overseas supplies. Congress banned exports of U.S. crude, except for small amounts to Canada, after the Arab oil embargo of 1973-74. But exports of refined products are legal. The latest trade data from the Commerce Department show petroleum exports in July hit a fresh record high of $12.5 billion in seasonally

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