Barclays: Regulations aren't chilling oil output
A Barclays analysis of oil output on federal lands and waters finds that "regulatory changes to date are not slowing U.S. production growth."
Why it matters: These areas make up roughly a fourth of total U.S. output and are directly affected by federal permitting and leasing decisions.
- The analysis arrives amid questions about why domestic production growth isn't growing more quickly, given high prices and the potential loss of lots of Russian barrels.
- Reuters has more on the Barclays report.
Catch up fast: A Dallas Fed survey of producers in its region, where most wells are on private lands, found that investor pressure to maintain discipline was the biggest check on growth.Supply chain and labor constraints are a problem too.
Yes, but: Industry officials say the Biden administration's leasing policies and overall posture about the sector's long-term domestic future also deter investment.