US Presidential Debate and the Oil Market

Americans eagerly watched the first presidential debate last week, hoping to see their favourite candidate rise to the occasion and show the leadership needed to reclaim the White House.

Instead, they were treated to a lacklustre performance from President Joe Biden, a barrage of unchallenged fabrications from former President Donald Trump, and an unexpected exchange about their golf skills.

The global energy market's transformation has become a central issue in the U.S. presidential race, with candidates presenting contrasting approaches to energy policy. President Joe Biden has emphasised a transition to renewable energy, aligning with international efforts to combat climate change. His administration has pushed for substantial investments in wind, solar, and electric vehicle infrastructure, aiming for a significant reduction in carbon emissions and a move towards energy independence through sustainable sources. Biden's plan includes rejoining international agreements like the Paris Accord, demonstrating a commitment to global cooperation on environmental issues.

In contrast, former President Donald Trump has advocated for a more traditional approach, focusing on the economic benefits of fossil fuels. During his tenure, Trump rolled back numerous environmental regulations to boost domestic oil, gas, and coal production, arguing that energy independence and job creation in these industries are paramount. He has been critical of renewable energy's reliability and cost, positioning his policy around maintaining America's dominance in the global energy market through conventional energy sources. These divergent views from the presidential candidates highlight the broader debate on how best to balance economic growth, energy security, and environmental responsibility in a rapidly changing global energy landscape.

Let's take a look at what two market analysts have to say after watching this debate.

Presidential Energy Showdown: The global impact of Biden or Trump in office

Find out what Mohamed Hashad , Chief Market Strategist, Noor Capital has to say:

https://www.oilandgasmiddleeast.com/business/insights/presidential-energy-showdown-the-global-impact-of-biden-or-trump-in-office

Oil, Economy, and Jobs: How Trump’s policies could redefine global energy markets

Read what Vijay Valecha, FRM ,?Chief Investment Officer at Century Financial has to say about who may win the election this coming November:

https://www.oilandgasmiddleeast.com/news/oil-economy-and-jobs-how-trumps-policies-could-redefine-global-energy-markets