Shale oil execs say Trump policies are hurting investment, 'business is broken'
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Trump has championed fossil fuels while attacking the renewable energy industry since taking office in January. His One Big Beautiful Bill Act, passed by Congress in July, delivered virtually everything the oil lobby wanted.
But Trump's push for lower crude prices, higher tariffs, and the resulting uncertainty caused by his "stroke of pen" policies are hurting investment, executives at independent oil and gas producers told the Dallas Fed.
Nearly 80% of executives who participated in the survey said they have delayed investment decisions in response to heightened uncertainty about the future price of oil and the cost of producing crude.
"We have begun the twilight of shale," one executive said, pointing to layoffs by the thousands and industry consolidation under big companies like Exxon Mobil. "The writing is on the wall," the unnamed manager said.