News
06/11/24
US elections undecided as some polls close: Update
Updates with changes throughout Washington, 5 November (Argus) — Early voting
results from key US swing states point to a tight race between former president
Donald Trump and vice president Kamala Harris, with the outcome carrying high
stakes for energy policy, trade and climate change. Pennsylvania, Michigan,
Wisconsin, North Carolina, Georgia, Arizona and Nevada are the swing states that
will decide which candidate reaches the threshold of 270 electoral votes needed
to win the election. Early results from Georgia point to a slight advantage for
Trump relative to his 2020 results in that state, which President Joe Biden then
carried by nearly 12,000 votes. But early voting results also point to slight
gains for Harris in some demographic segments relative to Biden's 2020
performance. That would make election results in Wisconsin, Michigan and
Pennsylvania — which typically take days to complete the count — crucial for
determining the outcome. Winning all three states would secure a victory for
either candidate. In the US Senate, Republicans have a pathway to win control
with a 51-49 majority by flipping one more seat, after West Virginia governor
Jim Justice (R) was declared the winner in that state's Senate race by the
Associated Press. Democrats are defending seats in close races in Montana, Ohio,
Michigan, Pennsylvania and Wisconsin. If the Senate is tied, control will go to
the party that wins the presidential election. Even before polls closed today,
Trump said there was a "lot of talk about massive CHEATING in Philadelphia" in a
post on his social media site, in a rerun of his strategy in the 2020 election
of making unsubstantiated claims about voting. Harris, in a campaign speech on
Monday in Pennsylvania, said the election offered a chance to "turn the page on
a decade of politics that have been driven by fear and division". Trump has
focused heavily on energy policy and voter frustration about inflation in his
bid for a second term. US motorists were paying an average of $3.07/USG for
regular grade gasoline in the week ended on 4 November, the lowest price in 10
months, but still higher than at any point in Trump's first term. On the
campaign trail, Trump has promised to bring down energy prices through a policy
to "drill, baby, drill" and dismantling President Joe Biden's signature climate
initiative, the Inflation Reduction Act. Harris has pledged to support the 2022
law and other Biden energy policies , such as continued support for electric
vehicles. Harris has disavowed her 2019 pledge to ban hydraulic fracturing. But
oil and gas companies remain concerned about restrictions on federal leasing and
efforts to electrify the vehicle fleet if she is elected. The next president
will decide key questions on energy policy, such as the licensing of new US LNG
export facilities and regulating carbon emissions from power plants, oil and gas
facilities and vehicles. The election will carry equally high stakes for
companies involved in metals , agriculture and other commodities. Trump is
planning a combative approach to trade, with a 20pc tariff on all foreign
imports and even higher tariffs against China. In 2025, the US Congress is also
poised for a major fight on tax policy because of the year-end expiration of an
estimated $4 trillion in tax cuts. On foreign policy, the next president will
face decisions on the future of US restrictions on Russian energy exports and US
sanctions against Iran and Venezuela and how to contain the growing threat of an
Israel-Iran war and its potential impacts on oil flows from the Middle East.
Polls also show a tight race in the fight for control of the US House of
Representatives, where Republicans hold a 220-212 majority and where up to 22
seats are deemed competitive, election ratings firm Cook Political Report says.
By Chris Knight and Haik Gugarats Send comments and request more information at
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