J.P. Morgan thinks investors should be wary of companies that depend more heavily on drilling on federal land.
If Joe Biden wins the presidency, it would invariably affect energy companies. It’s conventional wisdom that a Biden administration would be tougher on oil-and-gas companies than the Trump administration.
J.P. Morgan found that a Biden victory would likely have a mixed impact on energy, benefiting certain oil and gas stocks while hurting others. Indeed, energy companies have been able to expand under Democratic presidents too. Oil-and-gas companies vastly increased their production during the Obama administration, for instance, even though Obama’s policies sometimes limited their drilling activities.
“While Biden’s platform is not focused on banning hydraulic fracturing, his administration would look to restrict new permits on federal lands and waters, while activity on state lands would not be impacted,” wrote J.P. Morgan analyst Arun Jayaram.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Trump's push to shift campaign-year fears from coronavirus to crimeAfter struggling with messaging for months, and with 100 days until Election Day, the campaign has rallied around an apocalyptic pitch: “You won’t be safe in Joe Biden’s America.”
Weiterlesen »
Wall Street down after worldwide slide; gold at record highStocks closed broadly lower for the second day in a row Friday as Wall Street gave back some of its gains from a mostly solid July rally.
Weiterlesen »
Shohei Ohtani makes blunder as first baserunner under MLB's new extra-inning ruleShohei Ohtani, who made the last out in the ninth inning, was placed on second to start the top of the 10th against the Oakland A's.
Weiterlesen »
Schlumberger Cuts 21,000 Jobs Amid Historic Oil DownturnSchlumberger, the world’s largest oil-field services company, is cutting about 21,000 jobs as oil producers make steep spending reductions in response to a historic drop in prices amid the coronavirus pandemic.
Weiterlesen »
A Homeless Man Drowned In The Bellagio Fountain In Las VegasHorrified witnesses watched the man enter the popular attraction, swim out, then begin to struggle.
Weiterlesen »
A Kitchen Funnel is the Key to Bulk Ingredient OrganizationYou won't lose a single grain of rice (or drop of olive oil) in the process.
Weiterlesen »