This Election Could Determine The Future Of Oil
US oil production is heading for a huge shakeup after the presidential election in November, according to energy-information provider Platts.
In terms of a worst case/best case scenario, Platts analysts estimate that with a Republican win US oil production could surge by as much as 500,000 barrels a day, but with a Democratic win there could be the exact opposite—a decline of 500,000 barrels a day, MarketWatch reports.
The biggest concern for the oil industry is how Clinton would deal with fracking—she has been vehemently pro-fracking in the past but has recently shifted her tone, saying she may support banning the practice on public land.
And then there’s Trump, and while he hasn’t laid out many details on his energy policy, he did say he would consider a ban on oil imports from Saudi Arabia and other Arab allies. [MarketWatch]