Biden Administration 'Strongly Opposes' Legislation Proposing To Change Procedure For Approval Of Import, Export Of Natural Gas
Portfolio Pulse from Benzinga Newsdesk
The Biden Administration has expressed strong opposition to proposed legislation that would change the procedure for the approval of import and export of natural gas, according to a statement cited by Reuters.
September 18, 2023 | 3:35 pm
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NEUTRAL IMPACT
The proposed legislation could impact the broader market, represented by SPY, due to potential changes in the energy sector.
The proposed legislation could lead to changes in the energy sector, which is a significant part of the broader market. However, the impact is uncertain as the Biden Administration opposes the legislation.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The proposed legislation could directly impact UNG, an ETF that tracks natural gas futures.
The proposed legislation could lead to changes in the natural gas market, which would directly impact UNG, an ETF that tracks natural gas futures. However, the impact is uncertain as the Biden Administration opposes the legislation.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The proposed legislation could indirectly impact USO, an ETF that tracks oil futures, due to potential changes in the energy sector.
The proposed legislation could lead to changes in the energy sector, which could indirectly impact USO, an ETF that tracks oil futures. However, the impact is uncertain as the Biden Administration opposes the legislation.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60