The economists consider that Donald Trump’s victory will give an impetus to development of coal and oil industries in the USA. The investors are already considering additional investments in the extraction of mineral fuel, while the shares of wind and solar energy companies dropped on the market – AmericaRU reports.
The unexpected victory of Donald Trump became the reason for raising expectations in the energy industry. The analysts consider that his presidency will “pave the way” for construction of new pipelines and sheer away from US global participation in combating climate change. Trump can also cancel ecological norms for coal and oil extraction. The fact that Trump intends to “drive away” Barack Obama’s administration policy encourages investors to invest in oil and coal companies.
For the first 24 hours after elections, US energy sector index increased by 1.5%. Scott Sheffield, CEO of Pioneer Natural Resources Co., considers that Trump’s victory will become the start for a boom of drilling and building oil pipelines. Pennsylvania and Ohio, rich in oil and gas, will be actively developing.
Energy Transfer Equity shares, the Dallas company, building the disputable pipeline in Dakota, skyrocketed by 18% amid the hopes that Trump will give the green light to the project.
