Can US political deadlock benefit oil and gas?
Potential two-year gridlock in Congress following the mid-term elections may be a good thing for the domestic oil and gas industry
The oil and gas industry generally endorses the logic contained in a quote often attributed to US President Thomas Jefferson: "The government which governs least governs best". On 6 November, the country's voters, by creating a once-again divided federal government, also signaled their endorsement of it, at least for the next two years. For the most part, a divided government is the best kind of federal regime as far as the upstream industry is concerned. This is an industry that places a high degree of importance on regulatory and statutory certainty, and a divided government tends to result in a slower pace of change in these areas. The unified, Republican-controlled government of the past
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