Lengths of pipe wait to be laid in the ground along the Mountain Valley Pipeline route
US debt deal to have lasting consequences for oil and gas
Approval of Mountain Valley Pipeline could set a legal precedent, while permitting reform may make it easier for other projects to advance
The US averted an unprecedented federal debt default in early June, after President Biden signed the Fiscal Responsibility Act (FRA) into law with just two days to spare following months of acrimonious negotiations. A default would have had catastrophic economic and financial consequences for the US and other nations. Republicans refused to raise the borrowing limit unless Democrats agreed to reduce spending, leading to a standoff that was resolved only at the 11th hour after agreement was reached between Biden and House Speaker Kevin McCarthy. The FRA suspends the debt limit until 2025—after the next presidential election—and also introduces significant provisions affecting the energy secto
Also in this section
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
9 March 2026
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
6 March 2026
The March 2026 issue of Petroleum Economist is out now!
6 March 2026
After Europe’s rapid buildout of floating LNG import capacity, Exmar CEO Carl-Antoine Saverys says future growth in floating gas infrastructure will increasingly be driven by developing markets as lower prices, rising energy demand and the need to replace coal unlock new opportunities for unconventional and tailor-made solutions
