Why The Elections Aren’t Moving Oil Prices

The U.S. elections are less than a month away, and the oil market cannot seem to make up its mind whether it prefers a Biden or Trump presidency. Democratic candidate, Joe Biden, is ostensibly bearish for the oil markets since he has not only pledged to steer the U.S. to a net-zero carbon emissions status by 2050 but is also hell-bent on stopping key oil and gas projects on federal lands and waters including the controversial Keystone XL.  President Trump, on the other hand, has taken credit for the spectacular surge in US shale oil production,…