Gulf Oil Less Crucial in Storms as Shale Grows: Chart of the Day
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Oil from the Gulf of Mexico as a proportion of U.S. output has fallen to a 14-year low as the shale boom shakes up traditional production patterns, reducing the impact of hurricanes on national supplies.
The CHART OF THE DAY shows that the Gulf will account for 21 percent of domestic output this year, the lowest level since 1998, based on Energy Department data. The Gulf represented 29 percent of production in 2009, the most since at least 1993.