Associated Press: Crude oil reserves in the U.S. grew for the fourth straight year, reaching the highest level since 1976, according to an Energy Department report released Thursday.
The report says reserves grew 4.5 billion barrels, or 15 percent, to 33 billion barrels in 2012. It was the biggest one-year jump since 1970.
The U.S. consumed 6.9 billion barrels of crude-based fuels last year.
Drillers have learned how to unlock oil trapped in rock formations once thought too expensive to tap, using horizontal...