Ignoring market sentiments Helima Croft of RBC Capital Markets claims Oil industry will be out of favor but not under assault if Joe Biden wins – October 26, 2020,
I don’t think an American expects Joe Biden to expropriate land from oil companies, but when Joe Biden says he’ll phase it out, it obviously means more regulations on an indebted industry with slim margins as it is. Now, if you’re an investor, do you really want to take the Joe Biden risk?
Maybe Joe Biden was lying to the far left socialists and environmentalists but as an investor are you really willing to take that risk? There are a lot of pension funds that invested in Oil and Gas and these entities have to look out for the best interests of their clients and being that Joe Biden’s positions are unclear at this point a large segment of the investment world won’t be willing to bet the house and farm that Joe Biden or Kamala Harris won’t attempt to appease their far-left base of supporters, Joe Biden is, after all, a politician.
Donald Trump who is also a lying politician base of supporters are rooted in Oil and Gas, Donald Trump can’t turn on those supporters, so even if you want to argue Trump has been lying about everything else, he’s been consistent on bringing back America’s energy industry.
The article below is attempting to resurrect the Joe Biden campaign, which is fine, but I consider it a bad faith argument when Helima Croft when she states the following:
“With a Biden administration, I don’t think it’s a wholesale assault on the fossil fuel industry,” Croft told Business Insider. “I think oil is going to be sort of out of favor, but not under wholesale assault.”
We’re not talking about social justice here, we’re talking about people’s money and the market is sensitive once it realizes there’s a new sheriff in town, the market at first didn’t even know how to interpret Donald Trump, it wasn’t until Donald Trump proved that he was pro-business that the markets reacted.
Neither Joe Biden nor Kamala Harris make the economy their prime concern, there are people who get paid just to watch the actions of the President, Joe Biden is already struggling on the campaign trail it could be months before the markets have an understanding of Joe Biden’s objectives for the economy. People’s lives are on the line and I think it fair that these so-called experts tell the whole story instead of part of the story.
Interesting times ahead!