Dallas Fed Survey of Oil Executives Suggests Biden Is ‘Holding Us Back’

[Epoch-Times-Bot]

Dallas Fed Survey of Oil Executives Suggests Biden Is 'Holding Us Back'

U.S. oil and gas sector activity advanced at a strong pace, although the rate of expansion decelerated in the third quarter, according to the third quarter Federal Reserve Bank of Dallas Energy Survey.
The business activity index, a measurement of conditions facing energy companies in the region, came in at 46.0 in the July-to-September period, down from the record-breaking 57.7 in the second quarter.
Executives at exploration and production (E&P) firms noted that crude oil and natural gas production increased at a solid rate of 31.7 and 35.6, respectively.
Costs continue to remain elevated for the seventh consecutive quarter as the index for input costs clocked in at 83.9. None of the 58 oilfield services firms that participated in the regional central bank’s quarterly survey recorded a drop in input costs. In addition, the indexes for finding and development costs and lease operating expenses for E&P entities eased slightly to 64.7 and 70.2, respectively....

Source: Dallas Fed Survey of Oil Executives Suggests Biden Is 'Holding Us Back'

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