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
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
24 April 2026
Countries in the region are turning to the cleaner-burning fuel for power generation, driving demand for imports
