A survey conducted by the Federal Reserve Bank of Dallas has documented a slight contraction in oil and gas activity across New Mexico, Texas, and Louisiana, attributing this downturn to the current administration's steel tariffs. The findings suggest that the tariff disputes with China and other nations are beginning to have a measurable impact on the U.S. oil and gas industry, affecting companies engaged in exploration and production.
The Dallas Fed's report highlights the challenges faced by energy firms, including those like GEMXX Corp. (OTC: GEMZ), as they navigate the complexities of increased costs for steel, a critical material for drilling and infrastructure. This development is significant for investors and stakeholders in the energy sector, as it may signal broader economic implications of ongoing trade tensions.
For further details on GEMXX Corp., interested parties can visit the company's newsroom at https://ibn.fm/GEMZ.
