An emerging energy ETF, code-named FRAK, is generating a great deal of interest from investors who feel President Obama may not succeed in getting re-elected. That, of course, is pure speculation, but the President’s actions regarding fossil fuels could shape the financial future of domestic energy production--especially shale oil and gas extraction.

Now there’s a brand new exchange-traded fund called the Market Vectors Unconventional Oil and Gas ETF (the stock symbol is “FRAK”) that may act as a good barometer of the investing side of the shale oil and gas market, and it may tell how who gets elected this November may trigger either a big run-up or pullback from FRAK, in particular, and shale energy sources, in general.

That’s the table-setter. Now let’s take a look at what the professionals see when they look at FRAK, which was opened in February 2012 by the Van Eck Global fund family, the 5 th largest ETF provider in the U.S.

Mitt Romney, the presumed Republican nominee for President, certainly seems supportive of the shale industry. In a March 5, 2012 editorial that appeared in the Columbus (Ohio) Dispatch , Romney had this to say on the different approaches he and President Obama would take in regards to U.S. shale oil reserves:

The goal of my energy policy is straightforward: guarantee America the most affordable and reliable supply in the world. Ohio is seeing firsthand the potential of this approach in the Marcellus shale. The natural-gas revolution is creating direct jobs in construction and drilling, and producing a resurgence in American manufacturing. In the next couple of years, billions of dollars will be invested in the state in pursuit of these opportunities.

President Barack Obama has a different goal: higher prices, lower production and a government-led “green” industry. Ohio is seeing the effects of this approach, as well. The average family’s energy bill has jumped by thousands of dollars during his presidency. Gasoline-price increases alone have cost the middle class as much as would doubling the income-tax rate.

FRAK investors are betting that Romney’s vision of shale oil and gas will prevail after the first Tuesday of November. Even if he doesn’t win, domestic shale production won’t go away, although it may be muted somewhat given the aggressive regulatory tack taken by the U.S. Environment Protection Agency under President Obama.

So where does that leave FRAK? Pretty much, it’s self-described as a