YGRN - A Biden Presidency Is Very Bullish For Oil Prices

• Major media outlets have already announced Biden to be the next POTUS. While nothing is official "official" yet, the odds of Trump winning a 2nd term look unlikely.
• Under a Biden administration, US oil production will never fully recover back to ~13 mb/d. Oil market deficit set to balloon to -4 mb/d by 2025, assuming all OPEC+ spare capacity.
• Increased regulation, limits on flaring, ban of fracking on federal lands, no more leases on GOM, and a host of other stuff will prevent US oil production from growing wildly.
• At this point, there's pretty much nothing that will take us away from this scenario. So, if oil demand does recover back to 2019 levels by end of 2021, and we observe normal demand growth, a super spike is coming.
• For those of you looking to allocate more to energy sector, we would avoid the US side for now and go with the Canadian producers like CVE and SU.

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