The U.S. Supreme Court case Corporation Commission of Oklahoma et al. v. Cary, Trustee (1935) revolved around the issue of whether a state could regulate natural gas rates for interstate commerce under its police power or if it was exclusively within federal jurisdiction due to the Commerce Clause in the Constitution. The State of Oklahoma had attempted to set minimum and maximum prices for natural gas sold by an intrastate company that also engaged in interstate commerce, which led to this dispute with Cary, trustee for Hope Natural Gas Company who challenged these regulations as unconstitutional interference with interstate commerce. In a unanimous decision, the Supreme Court ruled against Oklahoma's Corporation Commission stating that while states have broad powers over local matters such as public utilities regulation under their inherent police powers; when it comes to regulating aspects related directly or indirectly affecting interstate commerce - like setting price controls on goods involved therein - they are preempted by federal authority per Commerce Clause jurisprudence unless Congress explicitly allows otherwise. This landmark ruling clarified boundaries between state and federal regulatory jurisdictions especially regarding energy resources management thus shaping future policies thereof nationwide.

In the dissenting opinion for Corporation Commission of Oklahoma et al. v. Cary, Trustee, it was argued that the majority's decision to uphold a state law requiring oil producers to limit production in order to prevent waste and protect property rights was an overreach of judicial power. The dissenting justices believed that this regulation violated the Due Process Clause of the Fourteenth Amendment by depriving oil companies of their right to use and enjoy their property as they see fit without sufficient justification or compensation from the government. They also contended that such regulations should be left up to individual states rather than being decided by federal courts, arguing that each state has unique circumstances and needs when it comes to managing its natural resources.