Investment in the mining and other extractive industries, including oil, declined in the United States by more than 30 percent last year, federal data show. When measured as a share of total private U.S. investments, federal data show spending in the mining and exploration sector dropped from a 5 percent share in 2014 to just more than 3 percent last year. A daily briefing from the U.S. Energy Information Administration said low crude oil prices are the major factor in the reduction in capital spending . “Fourth-quarter earnings statements from U.S. oil companies indicate plans to further reduce capital expenditure to balance spending with lower cash flows until crude oil prices increase enough to make investments economic,” EIA said. […]