Even fewer have any plans to cut back on flaring of excess gas or recycle water used in fracking wells, the Kansas City Fed found in its fourth-quarter survey of energy executives.
Those same managers said they need benchmark crude prices to average about $73 a barrel to justify new drilling and higher output. They foresee oil prices remaining above the $75 level through at least the middle of the decade, the survey found.
The Kansas City Fed’s jurisdiction includes Oklahoma, Wyoming, Colorado, Kansas, Nebraska and parts of Missouri and New Mexico.
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