Virtually all of this increased U.S. oil production comes from fracking on private and state lands. Energy prices dropped 41 percent over the course of 2015 due to fracking, according to the Energy Information Administration (EIA).
U.S. consumers spent $370 billion on gasoline in 2014, meaning such drop in gas is equivalent to $102 billion in the pockets of American consumers. American households likely saved $700 to $750 at the pump in 2015 due to increased oil production, according to analysis by the EIA.
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