Live At ABC News Presidential Debate Vice President Harris Says I Will Not Ban Fracking; My Position Is We Have Got To Invest In Diverse Sources Of Energy So We Reduce Reliance On Foreign Oil
Portfolio Pulse from Benzinga Newsdesk
During the ABC News Presidential Debate, Vice President Harris stated she will not ban fracking and emphasized the need to invest in diverse energy sources to reduce reliance on foreign oil.
September 11, 2024 | 1:41 am
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POSITIVE IMPACT
Vice President Harris's stance against banning fracking and promoting diverse energy investments could stabilize or increase oil prices, impacting USO positively.
Harris's position against banning fracking suggests continued domestic oil production, which could stabilize or increase oil prices. This is likely to benefit USO, an ETF that tracks oil prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Harris's energy policy could have a neutral to positive impact on the broader market, as represented by SPY, by supporting energy sector stability.
While Harris's stance on energy may support stability in the energy sector, its direct impact on SPY, which represents the broader market, is less pronounced, leading to a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50