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The 2020 Presidential Election saw a candidate who was pro-alternative energy and electric vehicles get the victory. Here’s a look at how a leading oil ETF and two of the largest oil stocks have done since the election.

What Happened?

Joe Biden defeated Donald Trump to win the 2020 Presidential Election.

The victory led to investors trying to decide which sectors could benefit from Biden’s leadership and likewise, which sectors could see a decline due to Biden’s victory.

One industry expected by many to see pressure was the oil industry. Biden had been vocal about opposition to several pipeline projects and fracking.

Biden also came into office as a strong supporter of alternative energy, with solar stocks and clean energy names favored by investors into the election and after his victory.

Oil stocks have returned to favor with increased tensions in the Russia-Ukraine region and have held up strong since the election, with November 2020 among the lowest prices in the past two years.

Investing $1,000 In Oil

A $1,000 investment in the United States Oil ETF (USO) on the morning of Nov. 4, 2020, after Biden’s victory could have purchased 36.87 shares. The $1,000 investment would be worth $2,528.91 today based on a price of $68.59 for the ETF.

Chevron Corporation (CVX) shares traded at $70.79 on Nov. 4, 2020. A $1,000 investment could have purchased 14.13 shares, which would be worth $2,237.91 today based on a current share price of $158.38.

A $1,000 investment in Exxon Mobil Corp (XOM) could have purchased 30.06 shares of the oil company. The $1,000 investment would be worth $2,322.14 today based on a share price of $77.25.

The investments would be up the following over the past 16 months:

• USO: +153%
• CVX: +124%
• XOM: +132%

Compare the return of the oil stocks and ETF to a 7.2% increase in the Invesco Solar ETF (TAN) over the same period and the oil stocks have greatly outperformed many of the clean energy and solar stocks and ETFs.