Figure 1. Dallas Fed Energy Survey shows “Wall Street demands profits”

A survey of 132 oil and gas firms shows investor pressure is the biggest restraint on increasing supply. Only 6% cited environmental regulations.

Plante M, Patel K. Dallas Fed Energy Survey. In: Federal Reserve Bank of Dallas [Internet]. 2022 [cited 12 Jun 2022]. Available:

This demonstrates that it is unlikely to be climate policy driving the price increase. In total, 11% attributed limitations on increasing supply to environmental, social, and governance issues. Put another way, 89% of the limitations are more likely tied to oil and gas firm choice.

Critically the Dallas Federal Bank survey notes:

It is looking unlikely that (increased supply) will happen, which will result in sustained higher energy prices until the American consumer is pushed into a recession.

Appendix for “What to know about gas prices, what's driving up the price, and a future threat lurking therein”

Source

U.S. producers reluctant to drill more oil, despite sky-high gas prices

Rather than give consumers relief at the pump, many oil and gas executives are sending profits to investors.

www.cbsnews.com

U.S. producers reluctant to drill more oil, despite sky-high gas prices