Obama’s New Staff Appointments Could Create Opportunity for Natural Gas

Bloomberg reported that Obama’s recent staff appointments, including the new head of the EPA and the new U.S. Energy Secretary, may give a boost to the natural gas industry.

As quoted in the market report:

In their current jobs, both have supported natural gas, the production of which by companies such as Exxon Mobil Corp. (XOM) and Chesapeake Energy Corp. (CHK) has boomed with the adoption of a drilling technique known as hydraulic fracturing, or fracking. Cheap gas has lessened the nation’s reliance on coal-fired power plants, reducing greenhouse-gas emissions. With more rules targeting coal’s emissions in the offing, natural gas is poised for growth, and that’s proved divisive among environmentalists.

To view the whole Bloomberg report, click here.