From The Texas Tribune
But in Texas’ Permian Basin — the nation’s most productive oil region and the place that would have to lead any jump in U.S. production — people in the industry, energy analysts and local leaders say there’s no quick or easy way to make that happen.
Cranking up production requires more workers, materials and money, and people in the industry say they’re facing the same labor shortages and supply chain issues that have plagued countless businesses throughout the COVID-19 pandemic. On top of that, they say Wall Street investors have become more hesitant about pouring money into fossil fuels, and the Biden administration’s policies are hampering the oil and gas industry.
“It’s hard to get pipe, sand, crews for drilling rigs, truck drivers,” said Mike Oestmann, CEO of Tall City Exploration, a company that drills oil wells in West Texas and has two active rigs that drill 32 wells per year combined. He said the scarcity of supplies, equipment and people “is unlike anything I’ve ever seen.”