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New Zealand backs gas, but results take time
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
Bakken oil output may hold its ground
While oil prices will determine the trajectory of the key US shale patch, regulation and technological shifts are also likely to shape direction longer term
South Korea’s transition bottlenecks keep LNG in play
The country’s new government has grand plans for renewables, but the structural changes needed for these policies will take years to carry out
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Trump creates new risk dynamic
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
Momentum builds for Alaska LNG
Asian and European interest gathers pace as Trump throws his weight behind frontier state
Letter from the US: Energy needs require a rethink
Tariffs, AI, critical minerals and emerging markets all raise fundamental policy questions
Lower oil prices fuel US driving season
US gasoline consumption is at its highest level since before COVID, but while stocks remain healthy, the hurricane season threatens
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Lengths of pipe wait to be laid in the ground along the Mountain Valley Pipeline route
US Midstream Politics
Roger Bezdek
Washington, DC
9 June 2023
Follow @PetroleumEcon
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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

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