EPA proposal to open oil and gas regulations; advocates question lost safeguards
Published . Updated .
Key takeaways
- Proposed changes to the Environmental Protection Agency’s oil and natural gas regulations under the Clean Air Act are intended to unlock additional production, but environmental advocates argue the changes would remove necessary methane monitoring safeguards.
- Exposed: USO, XLE, UNG, XOM, CVX
- Market reaction: USO +3.4% on the day; XLE +1.5% on the day; UNG +2.6% on the day
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Proposed changes to the Environmental Protection Agency’s oil and natural gas regulations under the Clean Air Act are intended to unlock additional production, but environmental advocates argue the changes would remove necessary methane monitoring safeguards.
Directly affected
- No company is named in this report.
Indirectly affected
- UNG United States Natural Gas Fund-13.5% 30d
United States Natural Gas Fund: it follows natural-gas prices. Linked by “gas” (natural gas) in this story.
- XLE Energy Select Sector SPDR+7.5% 30d
Energy Select Sector SPDR: it follows natural-gas prices. Linked by “gas” (natural gas) in this story.
- USO United States Oil Fund-1.1% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- EQT Eqt+0.4% 30d
Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story.
- LNG Cheniere Energy+11.8% 30d
Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story.
- KMI Kinder Morgan
Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story.
- WMB The Williams Companies
The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story.
- XOM ExxonMobil Holdings-2.7% 17d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| UNG | -9.22% | -1.27% | base | +2.65% | after close | after close | after close |
| XLE | -2.64% | -2.21% | base | +1.50% | after close | after close | after close |
| USO | +4.74% | +0.82% | base | +3.43% | after close | after close | after close |
| EQT | -3.93% | -5.26% | base | -0.61% | after close | after close | after close |
| LNG | -8.19% | -6.39% | base | +1.67% | after close | after close | after close |
| KMI | -4.40% | -3.20% | base | +1.39% | after close | after close | after close |
| WMB | -6.77% | -3.55% | base | +0.80% | after close | after close | after close |
| XOM | -0.81% | -1.14% | base | +1.84% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
EPA proposal to open oil and gas regulations; advocates question lost safeguards Billings Gazette
Source: Billings Gazette
How far United States Oil Fund (USO) has moved since 12 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Eqt (EQT) | that day | -0.61% | final price |
| Eqt (EQT) | three days earlier | -5.26% | final price |
| Eqt (EQT) | five days earlier | -3.93% | final price |
| KMI | that day | +1.39% | final price |
| KMI | three days earlier | -3.20% | final price |
| KMI | five days earlier | -4.40% | final price |
| Cheniere Energy (LNG) | that day | +1.67% | final price |
| Cheniere Energy (LNG) | three days earlier | -6.39% | final price |
| Cheniere Energy (LNG) | five days earlier | -8.19% | final price |
| United States Natural Gas Fund (UNG) | that day | +2.65% | final price |
| United States Natural Gas Fund (UNG) | three days earlier | -1.27% | final price |
| United States Natural Gas Fund (UNG) | five days earlier | -9.22% | final price |
| United States Oil Fund (USO) | that day | +3.43% | final price |
| United States Oil Fund (USO) | three days earlier | +0.82% | final price |
| United States Oil Fund (USO) | five days earlier | +4.74% | final price |
| WMB | that day | +0.80% | final price |
| WMB | three days earlier | -3.55% | final price |
| WMB | five days earlier | -6.77% | final price |
| Select Sector Spdr Tr (XLE) | that day | +1.50% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | -2.21% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -2.64% | final price |
| ExxonMobil Holdings (XOM) | that day | +1.84% | final price |
| ExxonMobil Holdings (XOM) | three days earlier | -1.14% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | -0.81% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 77 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Eqt (EQT), worth $1,001 - $15,000 on 17 Aug 2026. That is 87 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 14 Aug 2026. That is 90 days before publication. Filed 14 Oct 2026. View the filing.
- Sen. Alan Armstrong sold Williams Companies (WMB) (jointly held), worth $250,001 - $500,000 on 8 Sep 2026. That is 65 days before publication. Filed 22 Oct 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $15,001 - $50,000 on 20 Aug 2026. That is 84 days before publication. Filed 17 Sep 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $1,001 - $15,000 on 19 Aug 2026. That is 85 days before publication. Filed 17 Sep 2026. View the filing.
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 29 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 73 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Pete Sessions sold Chevron (CVX), worth $15,001 - $50,000 on 14 Oct 2026. That is 29 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 50 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 71 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Conocophillips (COP) (held by a spouse), worth $1,001 - $15,000 on 26 Aug 2026. That is 78 days before publication. Filed 14 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around United States Oil Fund (USO)
Companies tied to this story
- USO United States Oil Fund
United States Oil Fund (USO) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “EPA proposal to open oil and gas regulations; advocates question lost safeguards.” Reason on file: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
- XLE Select Sector Spdr Tr
Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “EPA proposal to open oil and gas regulations; advocates question lost safeguards.” Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- UNG United States Natural Gas Fund
In “EPA proposal to open oil and gas regulations; advocates question lost safeguards,” United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence. Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “gas” (natural gas) in this story
- XOM ExxonMobil Holdings
For “EPA proposal to open oil and gas regulations; advocates question lost safeguards,” ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- CVX Chevron
In “EPA proposal to open oil and gas regulations; advocates question lost safeguards,” Chevron (CVX) is linked, with no stored direction, medium confidence. Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- EQT Eqt
In “EPA proposal to open oil and gas regulations; advocates question lost safeguards,” Eqt (EQT) is linked, with no stored direction, medium confidence. Reason on file: Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story
- LNG Cheniere Energy
Cheniere Energy (LNG) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “EPA proposal to open oil and gas regulations; advocates question lost safeguards.” Reason on file: Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story
- COP Conocophillips
For “EPA proposal to open oil and gas regulations; advocates question lost safeguards,” Conocophillips (COP) is linked, with no stored direction, medium confidence. Reason on file: ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
United States Oil Fund (USO) and the energy link
The 12 Nov 2026 story “EPA proposal to open oil and gas regulations; advocates question lost safeguards” names United States Oil Fund (USO) because of Energy.
United States Oil Fund (USO) is on the page because United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
Price levels for United States Oil Fund (USO)
UNG traded between 8.95 and 11.43 across 20 sessions. The latest close on file is 9.34. USO traded between 143.02 and 171.80 across 20 sessions. The latest close on file is 148.41. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.
A simple score for United States Oil Fund (USO)
46 out of 100
“EPA proposal to open oil and gas regulations; advocates question lost safeguards” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.