2 Oil Stocks That Could Gain and 4 That Could Struggle in a Biden Presidency

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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: latimes - 🏆 11. / 82 Read more »

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. Wow! Schlumberger has been a good supporter of computer science in the Houston area. I hate to see this turn of events for this company that supports CS education weteachcs Devastación económica
Source: WSJ - 🏆 98. / 63 Read more »