Deregulation takes many forms. Take the pipelines. This morning Cabot Oil & Gas (COG) is ramping up, because Williams Partners (WPZ) got approval from FERC to build the Atlantic Sunrise natural gas pipeline, which can bring Cabot's Marcellus natural gas to the northeast.
This comes on the heels of the Army Corps of Engineers blessing the Dakota Access Pipeline for Energy Transfer Partners (ETP) .
The Atlantic Sunrise has been stalled for two years. The Dakota Access looked dead on arrival. Had Hillary Clinton won, I bet both of these pipes would not have seen the light of day.
These are reminders of just how political non-political regulatory bodies are. If you think these are random and happenstance, then you really don't get how the bureaucracy works.
The previous administration ostensibly had a policy that favored all forms of energy. However in the day-to-day administration, there was no such thing. If it was in the ground, President Obama wanted to keep it in the ground.
I understand this. Anything that hastens the development of renewables by making fossil fuels more expensive was considered a win for Obama. Now we have the opposite. This president wants to be energy independent, and he wants our oil and natural gas companies to lead the charge. You get a pipeline built like the Dakota Access or the Atlantic Sunrise, that means you get bigger drilling budgets and more people put to work -- and less use of OPEC oil.
Yes, lots of deregulation is going to take Congressional approval. But do not lose sight of deregulation by presidential fiat or ethos. That's what's happening in the oil and gas industry -- and it's just beginning.