Trump & oil/gas: Will the big boom come this time?
- Trump is back on the political stage and promises to push the oil and gas industry: more drilling, new power plants, fewer regulations. Sounds like a clear downward trend for share prices, doesn't it?
- But anyone who remembers knows that oil and gas prices rose when Trump was president - despite his pro-fossil fuel agenda. Biden, on the other hand, who is publicly in favor of reducing oil and gas, has seen prices fall. Sounds paradoxical, but the market often seems to react differently to political promises.
- What do you think? Will Trump's candidacy drive prices up this time, or will the market remain stubborn and once again move against the political announcements?
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$IOGP (+0.16%)
$XOM (-0.4%)
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