Alaska Gov. Sarah Palin adds some heft to the McCain ticket, but what does it mean for investors if she's the next vice president?
Doug Roberts, chief investment strategist at Channel Capital Research, has this to say about Sen. John McCain's surprise pick:
• She has a reputation as a reformer with common sense and has attacked corruption as Governor of Alaska. However, she has largely attacked individuals and limited punishment to specific people. This would be good for the market since it offers an opportunity for necessary reform without excessive regulation.
• She has been a proponent of energy development including an Alaska Natural gas pipeline. She favors development of ANWR along with offshore drilling. She is receptive to dealing with climate change and reduced greenhouse gas emissions and has kept her distance from oil companies. She could carve her role as an energy czar in the White House with practical experience. This could be positive for reducing energy prices.
• She is an enemy of pork barrel spending ending the Bridge to Nowhere project often cited by John McCain. This offers an alternative to increased taxes as a way to balance the budget—again a positive for the market.
• As the former Mayor of Wasilla, she reduced taxes. This again emphasizes the low tax platform of the party. This is a positive for the market.
• As a whole, she blends in very well as a maverick in the mold of McCain: reformer, enemy of pork barrel spending, enemy of higher taxes, socially conservative but not to an extreme, working class family and background.