FANG - Republicans retain control of Texas oil and gas regulator

Texas oil producers trade broadly higher after Republican businessman Jim Wright cruised to a surprisingly easy victory in the Texas Railroad Commission over a Democratic energy lawyer who had sought to put climate change on the state energy regulator's agenda.[[PXD]] +3.5%, [[EOG]] +4.8%, [[CXO]] +3.3%, [[APA]] +5.4%, [[CVX]] +1.9%, [[XOM]] +1.7%, [[OXY]] +2.5%, [[DVN]] +3.3%, [[PE]] +3%, [[FANG]] +0.5%.Billionaire former NYC mayor Michael Bloomberg poured $2.6M into the race to support challenger Chrysta Castañeda in the final stretch, and prompted Wright to argue that out-of-state money was trying to bring the Green New Deal to Texas.Wright received contributions from political action committees for energy companies such as Pioneer Natural Resources, Energy Transfer, ConocoPhillips and Ovintiv.The challenger, who would have been the first Democrat elected to the post in 26 years, promised to crack down on both the flaring and venting of natural gas.

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Republicans retain control of Texas oil and gas regulator