InvestorQ : Do you see the Biden shale plans impacting oil prices in the Brent Crude market?
Arti Chavan made post

Do you see the Biden shale plans impacting oil prices in the Brent Crude market?

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Rutuja Nigam answered.
4 weeks ago
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There were fears ahead of Biden that if he became the US president, he would clamp down on shale prospecting on Federal lands. The sceptics were not entirely wrong. In the last two weeks, Biden has moved swiftly to stop leasing of Federal lands for shale leases. He has also asked the government to take the initiative and expand its fleet of eco-friendly vehicles.

The US oil industry is up in arms as they try to underline that shale is less polluting than imported crude oil. The oil industry has tried to explain that putting restrictions on shale drilling will shift oil to other nations. Biden also initiated the process to re-join the Paris Climate accord.

However, oil operators pile up leases for years, so the impact on supply of crude and on crude prices will be limited in the short to medium term.

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