Figure 1. Dallas Fed Energy Survey shows “Wall Street demands profits”

A survey of 132 oil and gas firms shows investor pressure is the biggest restraint on increasing supply. Only 6% cited environmental regulations.

Plante M, Patel K. Dallas Fed Energy Survey. In: Federal Reserve Bank of Dallas [Internet]. 2022 [cited 12 Jun 2022]. Available: https://www.dallasfed.org/research/surveys/des/2022/2201

This demonstrates that it is unlikely to be climate policy driving the price increase. In total, 11% attributed limitations on increasing supply to environmental, social, and governance issues. Put another way, 89% of the limitations are more likely tied to oil and gas firm choice.

Critically the Dallas Federal Bank survey notes:

It is looking unlikely that (increased supply) will happen, which will result in sustained higher energy prices until the American consumer is pushed into a recession.

Appendix for “What to know about gas prices, what's driving up the price, and a future threat lurking therein”

Source

U.S. producers reluctant to drill more oil, despite sky-high gas prices