News Briefs

The Wall Street Journal reports that the U.S. has doubled its oil exports so far this year, signaling the resurgence of the American oil industry.  Even though American exports still only make up roughly 1% of global volumes, recent OPEC production cuts coupled with advancing technologies have allowed companies to profit at ever-lower prices. WSJ
 
A new study argues that roughly three million first-time home buyers have been shut out of the housing market over the last ten years.  The authors point to tight lending standards and significant supply shortages as key drivers of this trend, which has shown some signs of abating in recent months. WSJ