March 31, 2022

Why Biden’s oil dump may not help

Featuring Rachel Ziemba

Source: POLITICO

Journalist Ben Lefebvre

President Joe Biden is escalating his battle against sky-high gasoline prices, opening the taps on the nation’s reserves and cajoling reluctant oil companies to speed up drilling as the White House rolls out a raft of plans to ease the pain at the pump.

The question is whether any of it will work.

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Rachel Ziemba, senior fellow at the Center for New American Security, a think tank focused on national security issues, said Biden and Congressional Democrats are desperately trying anything that can lower prices in the short term until a long-term fix is in.

“This is an attempt to buy time, change the narrative,” Ziemba said of the oil release. “It’s a difficult balancing act. There’s not a lot of great options.”

Read the full story and more from POLITICO.

Authors

  • Rachel Ziemba

    Adjunct Senior Fellow, Energy, Economics, & Security Program

    Rachel Ziemba is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). Her research focuses on the interlinkages between economics, finance and security i...