XOM - ConocoPhillips: Ironically Biden Could Be Great For The Stock

• Energy investors recently got spooked by President Biden's orders to freeze leases and permits on Federal property and to stop construction on the -XL pipeline.
• However, those familiar with COP's production profile know investor concerns are way overblown. Biden could actually be a very positive catalyst for the stock.
• The truth is COP has a well diversified global production profile that has relatively little production exposure to the Federal ban - mostly in New Mexico and Alaska.
• Meantime, there are several positive developments including a comeback in Libyan production, record spot-pricing for Asia LNG, and a rise from the depths of despair for COP's Cenovus shares.
• With a strong recovery in Brent and WTI prices, combined with increased production from Concho's Permian acreage, COP is back to printing money again.

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