The EIA reported today that U.S. natural gas production set new monthly record highs in April for gross withdrawals and marketed production, on a 12-month moving average basis (to smooth out monthly variations), see chart above. Thanks to fracking technology and the shale revolution, American now has such an abundance of natural gas, that it makes economic sense for producers to export gas overseas to Europe and Japan, where prices are typically 5-6 times higher than in the U.S.

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