If Democrats regain control of one or both chambers of Congress after the midterm elections, energy companies could face increased oversight of their interactions with the Trump administration and federal regulators. Congressional investigations are expected to focus on whether companies received favorable regulatory treatment and the role industry may have played in shaping policy decisions.
“Any area where there is a perceived benefit gained by a private sector participant, there is going to be potential scrutiny,” Bracewell’s Tom Moyer told S&P Global.
“It cuts across specific issues and specific companies and specific subsectors within the industry, to the extent of any company that participated in a regulatory process, engaged in communications with this administration, and received a regulatory outcome.”