S&P Global Warns That A U.S. Default Would Wreak Havoc On Global Energy Markets

A debt default by the U.S. federal government would shake up the global energy market, S&P Global Commodity Insights has warned, adding, however, that the chance of that happening was a slim one. Congress is at an impasse about the debt ceiling and recent talks between President Biden and House Speaker Kevin McCarthy ended with no agreement on lifting the borrowing limit. In truth, the default alarm gets sounded every time Congress debates the debt ceiling, and so far legislators have invariably been able to avoid a default. Should this change,…