James Hyerczyk from fxempire believes Upside Momentum May Be Building for Surge into $39.83, But Has to Hold $38.74.
More importantly, What happens to Oil if Trump loses the election? The worst thing Biden could do is stop fracking on “Federally owned land,” but not on Private land where most of the fracking is currently taking place.
Biden and Sen. Kamala Harris, his vice-presidential running mate, have both repeatedly said that Biden won’t push to ban all fracking if he’s elected.
Today the federal government owns and manages roughly 640 million acres of land in the United States, or roughly 28% of the 2.27 billion total land acres. 1 Four major federal land management agencies manage 606.5 million acres of this land, or about 95% of all federal land in the United States. per fed.gov
Fracking (frac) — short for hydraulic fracturing — is a process for extracting natural gas by drilling thousands of feet into the ground and injecting a solution of water and chemicals through the earth’s crust to break up horizontal layers of shale rock.
“I am not banning fracking. Let me say that again. I am not banning fracking, no matter how many times Donald Trump lies about me,” Biden said during a speech in western Pennsylvania, home to one of the world’s largest natural gas deposits.
Biden’s campaign then said he meant he would not allow new federal land-drilling leases.