What’s the issue?
Chairman Glick’s term ends when Congress adjourns in December, unless before then he is confirmed by the Senate for an additional five-year term for which he was nominated in May.
Why does it matter?
The pipeline industry appears to be of two minds regarding Chairman Glick’s renomination, with some viewing a chastened Chairman Glick as better than any imaginable alternative and others viewing his renomination as a death knell for the industry.
What’s our view?
It is far from clear how chastened Chairman Glick is now or would be following his renomination. Similarly, the alternatives may not be as bad as some in the industry perceive them to be. But, Chairman Glick’s fate will almost certainly be determined by the views on these issues of only one person, Senator Joe Manchin.
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