Sentiments among oil and gas executives have swung from hopeful endorsements of President Donald Trump before he took office to pessimism and uncertainty now, according to a new survey from the Federal Reserve Bank of Dallas.
In the Dallas Fed’s first-quarter energy survey released Wednesday, nearly 61 percent of respondents said they were more uncertain about their companies’ futures than they were in the last quarter of 2024 when former President Joe Biden was still in office.
“I have never felt more uncertainty about our business in my entire 40-plus-year career,” wrote one respondent from an exploration and production company.
The Dallas Fed received responses from 130 oil and gas firms in Texas, southern New Mexico and northern Louisiana between March 12 and March 20. The survey does not name executives who provide comments so they can speak more freely. The companies include a mixture of producers and oil field service providers.
