About The Tribune-Review

The Tribune-Review can be reached via e-mail or at 412-321-6460.
Contact Us | Video | RSS | Mobile

Daily Photo Galleries

Saturday - May 18, 2013

Friday - May 17, 2013

Thursday - May 16, 2013

Oil production climbed to the highest level in 20 years as improved drilling techniques boosted exploration nationwide and reinforced a shift toward energy independence.

The Energy Information Administration said Wednesday that output rose 0.6 percent to 7.04 million barrels a day in the week ended Jan. 11, the highest level since 1993. Production was up 23 percent from a year earlier. The nation met 83 percent of its energy needs in the first nine months of 2012, on pace to be the highest annual rate since 1991, according to the EIA, the statistical arm of the Energy Department.

“You are going to continue to see U.S. production growth, which is pretty exciting,” said Chip Hodge, senior managing director at Manulife Asset Management in Boston. “This is going to do a lot for the economy as the trade balance improves.”

Production grew by the fastest pace in U.S. history last year as horizontal drilling and hydraulic fracturing, or fracking, unlocked crude trapped in formations such as North Dakota's Bakken shale.

1. As yen falls, so does cost of products from Japan
2. Automated teller machine fees up 20 percent in 5 years
3. PPG Corning bankruptcy plan receives preliminary approval
4. Web giants likely to battle for music fans’ attention
5. Pa. jobless rate declines as fewer look for work
6. Americans fail to find jobs as firms hire foreigners
7. Federal regulators say Consol can reopen fire-stricken mine
8. Pittsburgh lawmaker pitches bill to raise state’s film tax credit cap to $100M
9. ‘Sonic’ to join Nintendo lineup
10. Study: Retirees face declining standard of living
11. Idaho spud giant bets on biotech potatoes

Subscribe today! Click here for our subscription offers.