UPDATE: The Golan Heights decree has been signed.
Genie Energy ($GNE) shares rose briefly following U.S. President Donald Trump's Tweet about going forward with U.S. recognition of Israeli sovereignty over the Syrian Golan Heights, pointing to a correlation between recognition and profiteering by this energy company. It is suspected that full recognition, following Israeli Prime Minister Benjamin Netanyahu's visit to Washington, D.C. this week, will send the share price skyrocketing once oil exports become legal through this move.
The visit also happens to align with the American Israel Public Affairs Committee (AIPAC) annual conference.
Of course, Trump has a conflict of interest with this specific endeavor, due to Genie Energy's involvement in the Trump administration and presidential transition. Particularly through son-in-law Jared Kushner and his own confidant former Genie Energy president Ira Greenstein who vetted U.S. State Department officials.
Although Genie Energy has been a historically low-value stock, a look at Genie Energy founder Howard Jonas and his $3.1b dollar deal with Verizon Communications for 5G spectrum licensing, can shed light on the potential profiteering if oil exports are legalized.
This telecommunications deal also took place under the Trump administration.