US oil and gas has high hopes for new Speaker

ESG reporting standards and spending and subsidy provisions in the IRA among the priorities for the sector

Washington has seen a turbulent few months, with September’s fight over federal funding for the 2024 financial year and the ousting of California Republican Kevin McCarthy from the post of House speaker. The latter led to a month-long fight among Republicans to elect a replacement, a battle fraught with controversy and bad blood as candidates such as Louisiana’s representative and House Majority Whip Steve Scalise and Ohio’s Jim Jordan were considered and rejected. In the end, the party settled on Louisiana congressman Mike Johnson, a fourth-term member from Shreveport who has served as deputy whip, to become the next speaker. Johnson has established a strong pro-business record in Congress