Table of Contents
President Donald Trump is expected to face a wave of investigations when Democrats take control of Congress in January. His sweeping deal-making in the energy sector is likely to become a central focus as the opposition party gains subpoena power to compel testimony and document disclosures.
Iran War and Fuel Prices
Crude oil prices sold off sharply as markets anticipated the election defeat to push Trump toward an agreement with Iran. House Minority Leader Hakeem Jeffries stated that Democrats will end what he termed a reckless and costly war that has increased gas prices nationwide. Rep. Ted Lieu explained that the new Congress will try to rein in the administration through legislation to stop the conflict, while Jeffries noted that Democrats will pass a war powers resolution despite an expected presidential veto. Meanwhile, Patrick De Haan, head of petroleum analysis at GasBuddy, indicated that tumbling crude prices could push gasoline below $4 per gallon and diesel under $6 by Thanksgiving. However, Rapidan Energy President Bob McNally warned that military escalation risks remain high because Iran maintains an uncompromising position and Trump is unlikely to abandon his nuclear prevention goals.
Venezuela Oil and Legal Risks
Democratic lawmakers have spent months pressing the Trump administration for an accounting of Venezuelan oil revenues without success. Following the ousting of former President Nicolás Maduro, Washington seized control of Venezuelan oil exports and the Pentagon took a stake in an obscure oil company named North American Blue Energy Partners, or NABEP, to develop reserves and secure control over 65 billion barrels of oil. Democratic House members warned the industry that entering these agreements exposes them to legal risks and civil liability from creditors holding nearly $200 billion in debt. Democratic senators subsequently questioned the legal basis of the NABEP deal in a letter to Defense Secretary Pete Hegseth and Energy Secretary Chris Wright.
Critical Minerals and Conflict of Interest Concerns
Democrats have raised conflict of interest concerns regarding administration deals in the critical minerals sector involving government equity stakes. The White House defended these agreements as vital for national security against Chinese competitors, but Democratic senators highlighted the involvement of Cantor Fitzgerald in multiple deals. Commerce Secretary Howard Lutnick formerly ran Cantor before joining the Cabinet, though he divested and transferred control to his sons. Democratic senators demanded the preservation of records involving 14 companies in a July letter. Lutnick dismissed the allegations in a September interview with CNBC, stating that answering silly questions is a waste of time. Conversely, USA Rare Earth warned investors in an SEC filing that its government partnership has few precedents and could face litigation, political scrutiny, and changing federal priorities.
Canceled Renewable Energy Projects
The Trump administration has prioritized fossil fuels and campaigned against renewable energy, specifically canceling nearly $8 billion in energy projects across states that supported Vice President Kamala Harris in the 2024 election. Energy Secretary Chris Wright told Congress that political considerations did not drive the cancellations, though several House Democrats accused him of false testimony—an allegation denied by the Energy Department. Democrats are also scrutinizing efforts to eliminate offshore wind power, including an Interior Department buyout that paid TotalEnergies nearly $1 billion to cancel an offshore wind project in exchange for investing in natural gas. Reps. Jared Huffman and Jamie Raskin launched an investigation into the TotalEnergies agreement in April, labeling the deal unlawful.
