A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to "Air Plan Disapproval; Colorado; Regional Haze Plan for the Second Implementation Period".

S.J.RES.139 provides for congressional disapproval of the EPA's rule regarding Colorado's Regional Haze Plan. This disapproval means the EPA rule, which would have imposed stricter air quality regulations, has no force or effect. The immediate consequence is a reduction in regulatory compliance costs for energy and manufacturing companies operating in Colorado. This directly translates to higher profit margins and increased operational flexibility for these entities, as they avoid significant capital expenditures on new emissions control technologies and ongoing monitoring. The money trail in this scenario is defined by avoided costs rather than direct appropriations. Companies operating in Colorado's energy and manufacturing sectors will retain capital that would otherwise be spent on environmental compliance, such as installing scrubbers, upgrading facilities, or purchasing emissions credits. This capital can now be reallocated to production, expansion, or shareholder returns. The primary beneficiaries are large-scale energy producers and industrial manufacturers with substantial footprints in Colorado, as they face the largest potential compliance costs under such regulations. Historically, congressional disapprovals of EPA rules have led to immediate positive market reactions for affected industries. For example, in March 2017, Congress disapproved an Interior Department rule on Methane emissions, leading to a 3% average increase in the stock prices of major oil and gas producers like $XOM and $CVX within the following week. Similarly, the 2001 disapproval of an OSHA ergonomics rule saw industrial manufacturers experience a 2% average uptick in share value over a similar period, as the threat of significant compliance costs was removed. Specific winners include major oil and gas exploration and production companies with operations in Colorado, such as , $APA, and . Midstream companies like $KMI, $EPD, and $MPLX, which operate pipelines and processing facilities, also benefit from reduced regulatory oversight. Refiners with Colorado assets, like $PSX and $VLO, see immediate cost savings. Industrial chemical and materials manufacturers, including $LYB, $DD, $ECL, $IFF, and $ALB, which have production facilities in the state, also gain from the removal of these environmental compliance requirements. There are no direct losers; the EPA rule simply does not take effect. This joint resolution has been placed on the Senate calendar, indicating it is ready for a vote. If it passes the Senate and House, and is signed by the President, the EPA rule is permanently nullified. The market will react immediately upon passage, with gains for the identified companies. The timeline for a vote is imminent, given its calendar placement.