There are two great tragedies in life. One is not to get your heart's desire. The other is to get it. —George Bernard Shaw
If you join Twitter and start pushing out oil & gas content, the algorithm does its work and you quickly learn that the community is not exactly the most pro-Biden audience out there.
I would estimate the current administration’s unpopularity rivals that of probably FDR among oil & gas execs.
In Bryan Burrough’s book, The Big Rich (HERE) he details distain towards FDR that these early oil & gas tycoons had back then.
But there was a silver lining to FDR and his Energy Czar Harold Ickes. Along with the Texas Railroad Commission they were able to save the industry from their deluge of overproduction and excess supply.
One could make an argument that the ESG movement may have played a part in instilling capital discipline that is found in the corporate board rooms of today.
Quick update to our running poll. The OPEC meeting brought the bulls out in force last week. Out of 55 votes, 89% were bullish and 11% bearish.
But let’s examine the history of what type of political set up in the White House and Congress has historically been best for oil & gas investors.
Before we get started let me preface that this is NOT investment advice. You should never take investment advice from an anonymous account. This is merely to show you the history of what ACTUALLY happened.
Below I show the Crude Chronicles Energy Index (CCEI HERE) with a backdrop that highlights which party controlled the White House and Congress.
The CCEI (black line) is also adjusted for inflation as well.
The chart can be difficult to form a conclusion so next I break it out in table form.
One of the benefits of writing this post is now I know the order of the Presidency and their political affiliation for the last 100+ years. Still working on Congress but this skill should help me in some future trivia night. I think.
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