US oil production booms as new year begins

Washington

US crude oil production is flirting with record highs heading into the new year, thanks to the technological nimbleness of shale oil drillers who have unleashed the crude bonanza.

The current abundance has erased memories of 1973 petrol lines, which raised pump prices dramatically, traumatising the US and reordering its economy. In the decades since, presidents and politicians have mouthed platitudes calling for US energy independence.

President Jimmy Carter, i…