The White House is reportedly now mulling how best to respond to surging oil prices which are putting pressure on both inflation and the President’s ‘Build Back Better’ Agenda.
Why it Matters: Rising energy prices have now put the Administration in a bind as it attempts to shift the US economy away from carbon-based fuel sources. Expanding pipeline capacity and authorizing more drilling and energy exploration will likely bring prices down in the short to medium term and bring much-needed relief to consumers already suffering under record-breaking inflation rates, however doing so would also undermine the Administration’s stated green energy goals.
The Details: According to the Wall Street Journal Biden’s top advisors are now mulling over several options in an attempt to decrease the pain at the pump including potentially releasing oil from the U.S. Strategic Reserve as well as attempting to induce OPEC into pumping more oil.
What Conservatives are Saying:
What Liberals are Saying: