Befuddled

If someone can explain to me the story in the Journal this morning about how state oil and gas regulations affected friends of the governor I would appreciate it.  Did they even own companies that benefited?  Why is it important that people who bought these companies from the governor's friends and then sold them years later for a lot more money important?  Did the oil and gas regulations protect water supplies in the oil patch?  Or is that beside the point?  I read this story a couple of times and just did not get it.  It was all gibberish.