William (Bill) Patalon III is the Executive Editor and Senior Research Analyst for Money Morning. Before he moved into the investment-research business in December 2005, Bill spent 22 years as a journalist, most of it covering financial news as a reporter, columnist, and editor that included stints withGannett Co. Inc., and The Baltimore Sun.
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The Obama administration’s indefinite delay of the half-finished Dakota Access pipeline has far-reaching implications, all of which are negatives for U.S. oil stocks.
The delay is bound to have a chilling effect on future oil and natural gas pipelines. It means any similar project is at risk of rejection even after it has made it through the permitting process and construction has started.
And that’s put these oil stocks in the crosshairs…
Tags: oil stocks
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