BizPac: Data just released by the Energy Information Agency reveals that U.S. crude oil production peaked to 8.248 million barrels per day last week, a 28-year high, thanks to the success of horizontal drilling and hydraulic fracking in North Dakota and Texas. Yet prices at the pump remain stubbornly high. What gives?
A number of factors come into play, including persistent high demand, limited refining capacity, geopolitical instability, and speculation on the international market, according to Bloomberg...