US Debt Limit Battle: What's at Stake and Why It's Different

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  • The US government is on the precipice of a debt default next month: If not resolved, the issue carries major political risk for US President Joe Biden and menacing implications for energy markets.
  • But negotiations on extending the US’ borrowing cap could yield other energy wins, such as boosting prospects for permitting reform.
  • A default still seems unlikely, but current Washington dynamics — namely an increasingly factionalized and unpredictable Republican party — mean a worst-case scenario can't be ruled out.

The Issue

Policy and Regulation, Low-Carbon Policy, Macroeconomics
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