Oil and gas leaders back bipartisan American Affordability and Jobs Act
ExxonMobil, Chevron, bp, and 14 other oil and gas companies support the bipartisan American Affordability and Jobs Act of 2026, citing streamlined permitting for energy projects. CEOs highlight delays and costs, urging Congress to pass the bill. Senate to consider it post-midterms.
How this was made
The 30-second read
Why it matters
If enacted, the bill could lower costs and accelerate project timelines for major oil and gas firms.
Market read
The lobbying effort signals potential regulatory change that could benefit U.S. energy stocks.
What to watch
Political opposition or legal challenges could delay implementation, muting any price impact.
Background
Industry groups are lobbying for a bipartisan bill to modernize U.S. energy project permitting.
Ticker impact
ExxonMobil executives publicly support the American Affordability and Jobs Act.
potential upside as market prices in regulatory relief.
Bill aims to modernize permitting, which benefits ExxonMobil's project pipeline.
Chevron backs the bipartisan permitting reform legislation.
potential upward pressure as investors price in reduced project delays.
Chevron's large capital projects stand to gain from faster approvals.
ConocoPhillips is listed among companies supporting the bill.
possible modest upside as regulatory risk declines.
ConocoPhillips' U.S. upstream expansion could accelerate.
Devon Energy executives endorse the legislation.
likely slight upside as permitting risk eases.
Devon Energy's growth plans rely on timely permits.
Halliburton is among the service firms backing the bill.
potential modest upside from increased upstream activity.
Improved permitting could boost demand for Halliburton's services.
Plains All American supports the permitting reform effort.
possible upward pressure as pipeline projects face fewer delays.
Plains All American's pipeline expansion benefits from streamlined permits.
Shell USA joins other majors urging Congress to pass the act.
potential modest upside as permitting risk declines.
Shell's U.S. projects could proceed faster.
TC Energy is listed as a supporter of the bill.
likely slight upside as pipeline and power projects face fewer hurdles.
TC Energy's infrastructure projects benefit from faster approvals.
Market effects
Potentially improves outlook for the U.S. energy sector by reducing permitting bottlenecks.
May boost sentiment for U.S. oil and gas stocks in the near term.
Limited to U.S. markets; global energy investors may watch for policy spillovers.
Counterpoint
If the bill stalls, the anticipated regulatory relief may not materialize, limiting upside.
Key entities
- CompanyExxonMobil
Largest U.S. oil major supporting the bill.
- Industry GroupAmerican Petroleum Institute
Compiled statements from participating companies.
