US: Senate Passes Joint Res. Rolling Back Biden-Era Alaska Oil Restrictions

Oct-30 16:47

The Senate has voted 52-45 to repeal a Biden administration-era rule restricting oil and gas development in Alaska's National Petroleum Reserve, including Alaska's North Slope. Senator John Fetterman (D-PA) was the only Democrat to vote in favour of the resolution. 

  • Senator Dan Sullivan (R-AK), the joint resolution’s author, wrote on X on September 26, “With this resolution, in addition to [President Donald Trump’s]  Day One EO “Unleashing Alaska’s Extraordinary Resource Potential” and provisions in the OBBB, we are opening NPR-A for responsible resource development. This will benefit North Slope communities with jobs & economic growth, and support their tax base…”
  • Politico noted yesterday, “The resolution would specifically move to overturn a 2022 decision from the Biden administration that protected millions of acres in the NPR-A from oil and gas development. The Alaska delegation has long complained that the Biden administration was too aggressive with land protections in the state, arguing that extractive industries like oil and gas were essential to the economic well-being of communities and the state.”
  • The bill will now pass the House of Representatives. There may be considerable delays to consideration as House Speaker Mike Johnson (R-LA) has kept the lower chamber out of session for over 40 days as part of his government shutdown strategy. 

Historical bullets

US: Further Trump Headlines on Shutdown, Says We Can Cut Benefits

Sep-30 16:43
  • "TRUMP ON GOVERNMENT SPENDING: WE CAN DO THINGS IN A SHUTDOWN THAT ARE IRREVERSIBLE"
  • "DEMOCRATS ARE TAKING A RISK"
  • "WE CAN CUT BENEFITS" (Reuters)

US: Trump Says There Will Probably Be a Shutdown

Sep-30 16:40
  • "TRUMP ON GOVERNMENT SPENDING: WE'LL PROBABLY HAVE A SHUTDOWN" (Reuters)

PIPELINE: Corporate Bond Roundup: $11.25B Kuwait 3Pt Launched

Sep-30 16:21
  • Date $MM Issuer (Priced *, Launch #)
  • 09/30 $11.25B #Kuwait $3.25B 3Y +40, $3B 5Y +40, $5B 10Y +50
  • 09/30 $1.5B *Rentenbank 5Y SOFR+37
  • 09/30 $1.5B #Egypt $700M 3Y 6.375%, $800M 7Y Sukuk 7.95%
  • 09/30 $1.25B Carnival Corp 3.5NC
  • 09/30 $1B ADT 8NC guidance TBA
  • 09/30 $700M #Centerpoint Energy 30.5NC5.25 5.95%
  • 09/30 $600M #Turk Telekom 7Y 6.95%
  • 09/30 $Benchmark Kuwait 3Y, 5Y, 10Y
  • 09/30 $Benchmark Guardian Life 5Y +60
  • 09/30 $Benchmark Pacific Gas & Electric 3Y, 7Y & 30Y
  • 09/30 $1.4B WBI Operating 5NC2 6.25%, 8NC3 6.5%
  • 09/30 $Benchmark Thermo Fisher +5Y +70a, 7Y +80a, 10Y +90a, 12Y +100a
  • 09/30 $Benchmark Bahrain +8Y Sukuk, 12Y investor calls