BP: US oil production growth hit record-high in 2012

06/24/2013
The US recorded the largest single-year increase in oil production in 2012, according to the BP Statistical Review of World Energy. The review, released June 12, was the company's 62nd annual report. Backed by increasing production of unconventional oil and gas, the US recorded the highest growth in both oil and natural gas output in 2012, BP said. Meanwhile, coal consumption in the US experienced the largest decline in 2012 as it was displaced by less-expensive natural gas in electric power generation. According to BP, world nuclear output recorded the largest annual decline in 2012. After 2011's Fukushima accident, "higher imports of fossil fuels including [LNG] kept the lights on&...
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