The recent election has some interesting results.
• In Ohio, every town that had a fracking ban on the ballot voted it down.
• The voters in Denton, Texas voted to ban fracking in the city limits. The lawsuits have already been filed to fight the ban.
• PA elected a governor who wants to have a severance tax on the oil and gas companies, but they also elected more republicans into the state assembly and senate. We’ll have to see if the severance tax is passed and how high it is. If it’s high, will rigs start moving to OH and WV?
The Republican victories should bode well for the oil and gas industry. Here are some of the questions that may get answered:
• Will the Keystone Pipeline get approved?
• Will the EPA’s attack on coal be blunted?
• Will there be drilling on federal land?
• Will there be more offshore drilling?
• Will U.S. oil companies be able to sell oil overseas?
• Will the government expedite the approval to ship LNG overseas?
• And lastly, will the U.S. have an energy policy?