The Biden Ticket: What Does it Mean for US & International Oil & Gas?

October 21, 2020

The Biden Ticket: What Does it Mean for US & International Oil & Gas?

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There is a lot of confusion over what a Biden presidency will mean for oil & gas. Here we explore some of the issues.

For the US oil & Gas sector, there is much to be concerned about from the looming presidential election, most notably from the uncertainty of the result, but also just what the Democrats intend to do.

Biden and Harris have repeatedly highlighted that they intend to ban fracking, only to have a change of heart post securing the Democrat nomination.

Coupled with the ban on drilling in Federal lands, the proposed changes to oil & gas taxation, tighter methane standards, the phasing out of natural gas in the energy mix within 15 years, it is difficult to imagine that a Democrat Presidency can have anything positive to offer for the US industry.

In that context, what is bad for the US, would result in a net benefit for the international segment.

Increasingly, the US would start to become a net importer of energy, and the oil price supercycle, which has been tipped to be relatively distant and short, would at once be accelerated and extended, potentially breaking $200/bbl.

Between now and November 3rd, there is much to watch for and interpret.

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