President Trump’s third nominee to the Supreme Court declined to answer some questions that seemed steeped in basic facts, such as whether a president has the power under the Constitution to unilaterally delay an election. Barrett also declined to say whether she would recuse herself from a potential 2020 election case as Senate Democrats demanded, saying she would not be “used as a pawn to decide the election for the American people.”

Like high court nominees who preceded her, Barrett repeatedly avoided weighing in on her personal views of landmark decisions and declined to say whether she endorsed opinions from her mentor, former Justice Antonin Scalia, on abortion and same-sex marriage. At the same time, under hours of questioning from members of the Senate Judiciary Committee, she reinforced perceptions that she would help solidify a 6-to-3 conservative majority on the Supreme Court.

On the Affordable Care Act, whose constitutionality will come before the Supreme Court in oral arguments on Nov. 10, Barrett on multiple occasions said she was not “hostile” to the 2010 law that has been the core of the Democratic Party’s argument against her confirmation.

“I am not here on a mission to destroy the Affordable Care Act,” Barrett said under questioning from Democrats who tried to shed light on how she may rule on California v. Texas, a case brought by nearly 20 Republican attorneys general and backed by the Trump administration that challenges the constitutionality of former president Barack Obama’s signature health-care law.

Barrett, who would succeed the late Justice Ruth Bader Ginsburg if confirmed, testified that judges should not be swayed by their personal views on policy.

“Judges can’t just wake up one day and say, ‘I have an agenda. I like guns, I hate guns; I like abortion, I hate abortion,’ and walk

(Reuters) – Goldman Sachs said the outcome of U.S. elections would not impact its bullish oil and natural gas outlook and that an overwhelming Democratic victory could be a positive catalyst for these sectors.

Goldman reiterated its bullish 2021 view for both natural gas and oil, saying drivers for higher prices supersede the potential outcomes of the U.S. election.

“The recent gyration in oil prices, rallying on days of higher expected stimulus and weakening dollar, suggest that a Biden election and blue sweep could in fact prove a bullish catalyst for oil,” the bank said, adding that natural gas prices could rally too.

Opinion polls show presidential candidate Joe Biden with a substantial lead over President Donald Trump nationally, although with a narrower advantage in some of the states that may decide the Nov. 3 election.

Headwinds to U.S. oil and gas production would rise further under a Biden administration, with the potential for regulations raising the cost of shale production and reducing recoverable shale resources, Goldman added.

Biden’s climate priorities also point to a faster deployment of renewable sources of energy than currently expected, Goldman said, adding such an agenda would require new infrastructure, which alongside a likely large initial fiscal stimulus, would lead to higher oil demand in coming years.

(Reporting by Nakul Iyer and Eileen Soreng in Bengaluru. Editing by Gerry Doyle)

Copyright 2020 Thomson Reuters.

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Given the Biden – Harris tickets previous statements regarding fracking and the fossil fuel industry combined with current poll numbers that indicate they have a solid lead, it seems prudent to consider what effects their win might have on our energy investments.

In doing so however we need to keep in mind that stock prices and underlying cash flows are not necessarily always well correlated, with a significant dichotomy between the two being a potential opportunity. At Cash Flow Kingdom, we attempt to take advantage of such dichotomies. Particularly when current investor sentiment differs from the expected longer-term underlying cash flows.

For instance, despite these previous statements to the contrary, I take Biden’s current statement that there will be no ban on fracking at face value. This is because a complete ban on fracking would almost certainly become a political disaster for the Democratic Party. Pennsylvania, Ohio, and other Midwestern Rust Belt swing states in the Marcellus and Utica regions would almost assuredly turn ‘Republican Red’ in response. An outright fracking ban could thus single handedly deliver to the Republicans both houses in the next midterm election and eliminate any chance of a second term in the White House for Biden or Harris.

Source: The New York Times, Upfront

Nevertheless, lip service is likely to be paid to such an idea to appease those on the left side of the party, and maybe even some sort of tax might be proposed or imposed. This could drive investor sentiment toward the energy sector even more negative than it already is. However, an outright ban, or even a tax substantial enough to prevent significant fracking, is a non-starter. The Democratic Party is not that stupid.

Likewise, retracting existing permits and stopping existing drilling on federal lands is a no-go. This would not

AM Best and Best’s Insurance Professional Resources will host a complimentary webinar, on Tuesday, Nov. 10, 2020, at 2:00 p.m. (EST). Insurers complain of a rise of large jury awards, juror anti-business bias and investor-funded litigation. A panel of claims and legal experts examine what’s driving social inflation, which types of claims are affected most and how the insurance industry is responding.

Register now: www.ambest.com/webinars/socinflation.

Panelists include:

  • Daniel Herbert, president/chief executive officer, Three Griffins Claim Investigations and Adjusting;

  • Fred Karlinsky, shareholder, Greenberg Traurig LLP;

  • Dr. Bill Kanasky, senior vice president of litigation psychology, Courtroom Sciences; and

  • G. Jeffrey Vernis, managing partner, Vernis & Bowling.

Attendees can submit questions during registration or by emailing [email protected] The event will be streamed in video and audio formats, and playback will be available to registered viewers shortly after the event.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201008005811/en/

Contacts

John Czuba
Managing Editor, Best’s Insurance Professional Resources
+1 908 439-2200, ext. 5673
[email protected]

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The Global Health Insurance market will register an incremental spend of about $748 billion, growing at a CAGR of 7.29% during the five-year forecast period. A targeted strategic approach to Global Health Insurance sourcing can unlock several opportunities for buyers. This report also offers market impact and new opportunities created due to the COVID-19 pandemic. Request free sample pages

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201008005392/en/

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