The US oil and gas industry stands to benefit from increased investment after the Republican party’s US election victory, according to GlobalData forecasts.
Investment will likely increase in the energy industry and some of Biden’s green initiatives are set to be repealed, it adds.
“This will include expanding permits for the production and distribution of petroleum products, ending Biden’s recent pause on liquified natural gas (LNG) exports, and dropping the US Environmental Protection Agency’s (EPA) emissions standards and regulations, approved by Biden in March 2024,” the company forecasts.
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