UBS On-Air · · 12 min
Washington Weekly Podcast: SCOTUS cases, U.S. midterm election update
With Shane Lieberman
Summary
UBS On-Air's Washington Weekly, featuring Shane Lieberman, covers the upcoming U.S. midterm elections and a Supreme Court case. On the midterms, he expects Democrats to win the House, with the open question being the size of their majority, and notes roughly 2 million votes already cast with about a month left. For the Senate, he puts the current count at 50 Republicans to 47 Democrats, with Democrats likely flipping North Carolina to reach 52, and names Ohio, Texas and Alaska as the most likely paths to Democratic control, with Iowa also contested. He warns Alaska's ranked-choice system and its size could delay results for days or weeks. On climate litigation, he describes the City of Boulder's suit against two energy companies over alleged knowledge of climate harm, arguing a ruling for the city could open the door to more state and local suits, with the stakes lying in the legal precedent rather than company financials.
Key takeaways
- Shane Lieberman on Oil & fuels: A Supreme Court ruling for Boulder against energy firms would likely bring more state and local climate suits.
- Shane Lieberman on US elections & politics: House likely to flip to Democrats; the open question is how large their majority will be.
- Shane Lieberman on US elections & politics: Senate control is tight: Democrats' path runs through Ohio, Texas and Alaska, with Alaska possibly taking weeks to call.
What was said, by company and theme
3 views from 1 speaker. Every quote is checked against the episode's transcript (how).
US elections & politics
Shane Lieberman · UBS
House likely to flip to Democrats; the open question is how large their majority will be.
Shane expects Democrats to take the House in the November midterms, with the real uncertainty being the size of their majority. His support is the campaign timing: about a month to go, last-minute ads being run, and roughly 2 million votes already cast through early and mail-in voting. He argues the window to move voters for or against a candidate is closing, so late campaigning may not shift the outcome much.
“I think the House is likely going to Democrats. ... It's more of a question of how big their majority is going to be.”at 4:21
Shane Lieberman · UBS
Senate control is tight: Democrats' path runs through Ohio, Texas and Alaska, with Alaska possibly taking weeks to call.
Shane puts the Senate at 50 Republicans to 47 Democrats today, with Democrats expected to flip North Carolina, which he says makes it 52 for Democrats. He calls Ohio, Texas and Alaska the most likely routes to Democratic control and says Iowa is also contested. He expects Kansas to stay Republican after a final push for Senator Roger Marshall. In Alaska, a ranked-choice system and two candidates named Dan Sullivan could cause confusion. The state's size could delay the count by days or weeks, so Senate control might not be known on election night.
“as of today, it's a 50 three-forty seven split for Republicans. I think Democrats are gonna pick up North Carolina, which makes it 52 for gate... I'm closely watching Ohio, Texas, and Alaska as probably the path for Democrats to take over the senate.”at 4:39
Oil & fuels
Shane Lieberman · UBS
A Supreme Court ruling for Boulder against energy firms would likely bring more state and local climate suits.
Shane describes the City of Boulder's suit against two energy companies, which alleges they knew their activities contributed to climate change and caused harm to the county and its residents. He says the case is one observers will watch closely. If the Supreme Court rules for the city and county, he expects more lawsuits by states and localities against energy companies. The argument rests on the precedent a ruling would set, not on any company's financials.
“if the supreme court, when they eventually rule on this, rules in favor of the county and city versus the energy companies, probably expect more of similar lawsuits by states and localities against some energy companies.”at 2:36
Topics
- climate liability lawsuits
- midterm House control
- midterm Senate control
More from UBS On-Air
- Top of the Morning: Preferred Securities - Performance & positioning · November 6, 2026
- UBS On-Air: Paul Donovan Daily Audio 'Reassessing markets, not economics' · November 6, 2026
- Top of the Morning: CEO Macro Briefing Book - Election digestion · November 5, 2026
- Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 76) · November 5, 2026
- UBS On-Air: Paul Donovan Daily Audio 'Shifting expectations' · November 5, 2026
Ask your AI about this episode
Chorus gives Claude, ChatGPT and other assistants every view from this episode and every other show Chorus follows. Ask who agrees, who changed their mind, and what else was said about the same companies.
Chorus reports what speakers said. It isn't investment advice. How Chorus works · About Chorus