Analyst Slams Robert Kennedy Jr.'s Fracking Ban Idea, Warns Of Oil Spiking To Over $200: 'Nothing Will Make Russia, Iran And China Happier'
Portfolio Pulse from Shanthi Rexaline
Democratic presidential candidate Robert Kennedy Jr.'s proposal to ban fracking has been criticized by oil analyst Anas Alhajji, who warns that such a move could cause oil prices to spike to $200 per barrel, gasoline prices to $9 per gallon, and natural gas to $9 to $14. Alhajji also warns that a fracking ban could lead to the disappearance of U.S. oil exports, a doubling of oil imports, and a heavy reliance on foreign countries, including Russia and OPEC members. This could weaken the dollar and destroy the U.S. LNG industry.
September 18, 2023 | 12:58 am
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The United States Oil Fund, LP (USO) could be impacted by the proposed fracking ban, as it could lead to a spike in oil prices.
The proposed fracking ban could lead to a spike in oil prices, which would likely increase the value of the United States Oil Fund, LP (USO).
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100