Trump's 'Drill Baby Drill' Plan Just Backfired—Oil Stocks Haven't Been This Cheap In Years

Benzinga

Trump’s “Drill Baby Drill” agenda faces resistance as oil prices and energy stocks slump while renewables soar. Crude is down 22%, and clean energy ETFs have outperformed for seven straight months amid investor rotation.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Trump's drill-baby drill pledge is colliding with market headwinds as oil prices and energy stocks slide,

00:07while renewables surge, according to Benzinga.

00:10The Energy Select Sector's spider fund is flat for the year, making it the worst-performing S&P 500 sector,

00:15while crude has fallen 22% to $56 a barrel.

00:19As oil stumbles, the Invesco Roundo Clean Energy ETF has soared 67%,

00:23marking seven straight months of outperformance over oil equities.

00:27Analysts tie the slope to OPEC Plus' $4 million per barrel day quota hike

00:32and rising input costs squeezing producers, with U.S. recounts down 70 since April.

00:37Many investors are rotating into clean energy, signaling that Trump's fossil fuel revival may be a reversing course.

00:43For all things money, visit Benzinga.com.

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