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Investor's Business Daily | November 13, 2014 | by The Editorial Board
According to the Institute for Energy Research (IER), hydraulic fracturing and horizontal drilling “saved consumers between $63 billion and $248 billion in 2013.” Going back further, those techniques “applied to shale oil formations saved consumers” cumulatively at least $165 billion and maybe as much as $624 billion from 2008 to 2013. “Without these technologies, international crude oil prices would have averaged $122 to $150 per barrel — $12 to $40 a barrel more or between $0.29 and $0.94 per gallon more on gasoline and other refined products,” says a Nov. 6 IER analysis.
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