A recent survey conducted by the Federal Reserve Bank of Dallas revealed that shale-oil executives are criticizing President Donald Trump's trade policies. Executives expressed concerns that the tariffs imposed by the administration were causing confusion in the market and hindering America's energy industry. The survey, which allows executives to provide anonymous feedback, highlighted the unpredictability of tariff policies and the lack of clarity in their objectives.
The report included comments from industry insiders who were particularly vocal in their dissatisfaction with the government's approach. Market analysts noticed the unusual number and intensity of complaints in this survey compared to previous editions. Oil and gas firms in Texas, northern Louisiana, and southern New Mexico participated in the survey, revealing an increase in the breakeven oil price to $65 per barrel and concerns over the impact of steel tariffs on demand.
Executives expressed significant levels of uncertainty and apprehension about the future of their businesses, citing geopolitical risks, economic uncertainties, and the detrimental effects of falling oil prices on production. The dissatisfaction with the current administration's rhetoric and its impact on the energy sector was evident in their feedback. The survey results indicate a lack of confidence in achieving the proclaimed goal of "energy dominance" under the current policies.