Reserves of oil and natural gas in the United States shot
higher last year, according to new government data.
Proved reserves of natural gas rose by 34.8 trillion cubic feet
(tcf), or 10%, to a record high of 88.8 tcf in 2014, while oil reserves rose
3.4 billion barrels, or nine percent, to 39.9 billion barrels, the highest
The increases, which were the sixth in a row, were driven by
prolific production from shale plays that, through hydraulic fracturing, have produced
vast amounts of fuel, creating a market glut and causing steep price drops.