Kai Risdahl

Daniel Ackerman made some calls out to West Texas to see what's going on.

Daniel Ackerman made some calls out to West Texas to see what's going on.

Usually, rising oil prices have a predictable impact on oil producers.

Usually, rising oil prices have a predictable impact on oil producers.

But Carr Ingham, president of the Texas Alliance of Energy Producers, says drillers in the Permian Basin don't seem to be ramping up production right now.

But Carr Ingham, president of the Texas Alliance of Energy Producers, says drillers in the Permian Basin don't seem to be ramping up production right now.

One reason is they simply haven't had enough time.

One reason is they simply haven't had enough time.

The war has been going on for just over a month.

The war has been going on for just over a month.

Instead, there's identifying prospects and lining up permits, says Mark Finley of Rice University.

Instead, there's identifying prospects and lining up permits, says Mark Finley of Rice University.

All before they even start drilling.

All before they even start drilling.

Finley says with past oil price swings...

Finley says with past oil price swings...

He says it's not clear if Middle East oil supply will be restricted for long enough to justify that investment.

He says it's not clear if Middle East oil supply will be restricted for long enough to justify that investment.

Garrett Golding of the Dallas Fed says domestic producers have gotten more disciplined in reacting to market swings.

Garrett Golding of the Dallas Fed says domestic producers have gotten more disciplined in reacting to market swings.