Russian, Saudi Oil Giants To Benefit From Biden’s Anti-Oil Agenda

The growing number of Western countries aiming for net-zero emissions by 2050 and the U.S. Administration’s drive to limit oil and gas extraction on federal land and waters are likely to benefit the biggest oil firms in Russia and Saudi oil giant Aramco, analysts and portfolio managers told Bloomberg.

While major developed economies are vowing to ‘build back greener,’ the world will still run on oil, and the beneficiaries, at least in the short term, will be the oil firms in countries that haven’t pledged net-zero targets…