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Any meaningful impact that the incoming Biden administration can have on the private sector will likely take some time.
We expect the first 12 to 18 months of Democrat Joe Bidenâs term will be largely spent undoing the Republican Trump administrationâs rulesâwith minimal impact on company valuations.
We think the biggest effect a Democrat-controlled Congress would have on investments is a likely increase in the corporate business tax rate. We also think Democrats will work to provide more stimulus and expand healthcare coverage, primarily within the Affordable Care Act framework. The narrow Democratic majority in the U.S. Senate will help Biden make government appointments faster. But without a larger majority in Congress, a lot of public policymaking will be left up to executive action.
NavigatIIR: Oil & Gas Developers in Gulf of Mexico Prep for $12.4 Billion in 2021 Projects Starts
Industry Segment: Production | Word Count: 154 Words
SUGAR LAND December 21, 2020 Researched by Industrial Info Resources (Sugar Land, Texas) Industrial Info is tracking more than $12.4 billion worth of oil and gas projects in the Gulf of Mexico that are slated to begin construction in 2021, spanning crude oil exploration, liquefied natural gas (LNG) production and pipelines. Project developers in the Gulf have faced countless hurdles throughout 2020 that have challenged and slowed operations, from a series of hurricanes throughout the summer, to the menace of COVID-19.
Within this article: Details on some of the biggest active oil and gas projects currently set to kick off in the Gulf of Mexico in 2021, including those from major companies such as Chevron Corporation (NYSE:CVX), Wood plc, Williams Companies (NYSE:WMB), Murphy Oil Company (NYSE:MUR) and Royal Dutch Shell plc (NYSE:R
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This year has been a historically brutal one for oil stocks, with a collapse in demand driven by COVID-19 travel restrictions and shutdowns pushing WTI crude oil prices briefly into negative territory for the first time in history.
Yet the oil market has since stabilized, and one analyst said Friday it may finally be time for investors to start dipping their toes in the space in 2021.
The Analysts: Morgan Stanley analysts Devin McDermott and Benny Wong issued rating and price target updates throughout their oil coverage, including the following upgrades:
Diamondback Energy Inc (NYSE: FANG), upgraded from Equal Weight to Overweight, price target raised from $51 to $65.