The U.S. Supreme Court continued its busy summer this week, issuing a landmark ruling limiting the mpower of the Environmental Protection Agency. The ruling could have significant financial implications for a number of energy sector stocks.

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Why It's Important: The Supreme Court ruling should be good news for fossil fuel producers, such as coal, oil and gas stocks. Many of these stocks are already some of the market's top performers of 2022, and the court's decision could remove the EPA as a potential headwind in the years ahead.

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Fortunately for environmentalists, Morningstar analyst Travis Miller said coal stocks will likely see a limited positive impact from the ruling.

"Utilities have already largely implemented the EPA rule, installing scrubbers on surviving plants and shutting down other plants where economics made implementation cost prohibitive," Miller said.

Benzinga's Take: The long-term future of the energy industry is certainly renewable, clean energy. Yet it may be decades before the U.S. can completely wean itself off of fossil fuels, and surging energy prices and stocks have made clear to investors in 2022 that there is still plenty of money to be made in coal, oil and gas.

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